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Three De Vere Hotels for Sale for £60m

American investment firm Starwood Capital has put three De Vere country house hotels up for sale for a combined total of at least £60m (€70m).

The three hotels – De Vere Cranage Estate in Cheshire, De Vere Staverton Estate near Daventry in Northamptonshire, and De Vere Horwood Estate near Milton Keynes – are all being sold freehold and are available free of brand and management.

The three hotels, which are being marketed as a group or separately, have a combined total of 580 rooms and feature a range of leisure facilities including an 18-hole golf course at Staverton Estate, according to property agency Christie & Co.

It emerged two years ago that Starwood was looking to sell its Principal and De Vere brands, after it appointed advisors to look at a sale valuing the business at more than £1.2bn (€1.4bn).

Starwood currently has 13 De Vere hotels, having sold off its Principal portfolio and two De Vere properties to French firm Convivio last year.

Jeremy Jones, head of brokerage – hotels at Christie & Co said: “We are delighted to present to the market such attractive, high yielding hotels. The scale of each of these properties leaves ample opportunity for new owners to build upon the already successful businesses and we anticipate high levels of interest from a range of buyers and investors.”

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