The expanding Vine Hotels group has purchased a well-known hotel close to the M5 motorway north of Bristol, in a deal arranged by Enterprise Hotels & Hospitality and Simon Steven Associates.
The acquisition of The Gables Hotel, a Best Western venue with 46-bedrooms on the Bristol Road in Falfield, South Gloucestershire, was made in a joint venture between Castlewood Hotels and Vine Hotels for an undisclosed sum.
Enterprise Hotels & Hospitality completed the sale on behalf of the vendor, the Sutton Coldfield-based Webb Hotel Group, working closely as joint agents with Simon Stevens Associates.
Gavin Wright, founder of Enterprise Hotels & Hospitality, based in Solihull, said: “We’re pleased to have successfully completed this sale on behalf of Webb Hotel Group.
“This deal reflects the ongoing confidence of investors in the UK hotel sector and the competitive appeal of properties in well-connected locations close to major cities.
“We now look forward to seeing the next chapter for The Gables under Vine Hotels’ ownership.”
Simon Stevens, founder of Simon Stevens Associates, based in Winchester, said: “Following a competitive marketing process, we witnessed purchasers’ selective approach to the market, as investment yields continue to soften and price expectations continually come under scrutiny.
“In this instance, investors identified a clear strategic value-added opportunity and operational upside with the property and business that ultimately secured Vine Hotels’ commitment.
“We wish them well with their investment in repositioning the hotel business to capitalise on its future potential.”
The Gables is on a 1.8-acre site off the A38 just 20 minutes from Bristol, well placed for business guests and for tourists visiting the Cotswolds, with 104 onsite parking spaces.
The hotel has meeting rooms for up to 200 delegates, a civil wedding licence for up to 150 guests, and reception space for 200 guests. It also includes a Marco’s New York Italian restaurant and bar, with seating for 80 guests, a refurbished bar accommodating 40, and spacious patio area.
Vine Hotels is a hotel management, consultancy and development business with a UK-wide portfolio of owned and operated hotels and venues. The purchase of The Gable follows last month’s announcement that Hotel Collingwood in Bournemouth had also joined Vine Hotels’ growing portfolio.
Garin Davies, chief executive of Vine Hotels, said: “The expansion of hotel and venue ownership and management is a key aim for us this year, and so the acquisition of The Gables Hotel has come during a busy and exciting period.
“I am delighted that we have been able to add two new hotels in two months, showing our commitment to growth.
“The Gables has great business development potential, with an ideal location for UK and international travellers visiting the Cotswolds and nearby tourist towns, while also serving commercial travellers commuting to Bristol and the wider south-west region.
“We look forward to working with the hotel team to successfully grow the business in the months ahead.”
Webb Hotel Group, the former owners of The Gables, is a collection of family-owned and run properties in the Midlands. This includes Moor Hall Hotel & Spa in Sutton Coldfield, which the Webb family bought in 1961, along with The George Hotel and The Cathedral Hotel, both in Lichfield.
Angela Burns, chief executive of Webb Hotel Group, said: “I am pleased we have been able to secure the sale of The Gables and pass the hotel into the hands of experienced hoteliers who share our commitment to excellence in hospitality. We wish them every success and look forward to seeing the hotel prosper in the years ahead.”
