Britannia Hotels bought two hotel properties in northern England from De Vere Group for £20 million (US$32 million).
Britannia Hotels, Altrincham, England, bought the De Vere Royal Bath Bournemouth, located in Bournemouth and De Vere Daresbury Park, located in Warrington.
The sale is part of a larger asset disposal strategy that De Vere Group, London, is undertaking this year. The company is also in talks to sell De Vere Grand Harbour Southampton, located in Southampton, England, and De Vere University Arms Cambridgeshire, located in Cambridge, England.
“We are pleased to have successfully disposed of these two properties,” said Andrew Coppel, De Vere Group CEO. “The proceeds from our disposal program will go toward funding a range of exciting development opportunities across our group.”