The Holiday Inn Dumfries has changed hands as part of a three-property hotel portfolio acquired by Estee Group in a deal managed by Savills and marketed at a guide price of £14 million. The deal marks the groups first acquisition in Scotland. It currently has a number of hotels throughout the rest of the UK.
The Dumfries hotel is one of three regional assets purchased from Project License. The other properties include the Holiday Inn Darlington North and the Mercure Sheffield Parkway. Together, the three hotels offer a total of 227 bedrooms.
The sale reflects continued investor interest in branded, regional hotels. The Dumfries site in particular has been highlighted for its location within a historic estate and access to local visitor traffic.
Steven Fyfe, director at Savills, said, “Project License provided an excellent opportunity to purchase three well-located hotels with strong brand identity and considerable future asset management potential. We are very pleased to have completed the deal, achieving a strong price on behalf of our client”.
