The owner of Queens Hotel and Oulton Hall has been bought for £525m by a London-based real estate investment company.
QHotels, which is based in Morley, was founded by Michael Purtill and Ian Goulding in 2003 with just two hotels. The business now has 26 five and four star regional hotels. Real estate investment firm Aprirose has acquired the QHotel group from Bain Capital Credit and Canyon Partners.
The portfolio’s assets, which comprise 3,680 beds, are located throughout the UK and in major cities including Leeds, Manchester and Glasgow.
Manish Gudka, CEO at Aprirose, said: “We are pleased to have completed on this exciting and unique portfolio.
“This was a complicated deal, which had a lot of interest shown in it from the market, but owing to our investors, contacts and transactional experience we were able to get it done in quick time. The 26 hotels, spread throughout the UK, will add a new dimension to our asset diverse real estate portfolio and also offer us opportunities to further develop the portfolio to increase the number of beds available.”
The QHotel portfolio is made up of a variety of hotels including spa hotels, golf resorts and luxury hotels. The deal was funded by Aprirose and its roster of international investors, including Chinese investor Cindat Capital Management.
Aprirose has appointed hotel management company Redefine BDL Hotels to manage the 26 hotels.