Bailiwick hotels sold in multi-million deal
A MULTI-MILLION pound deal for three Bailiwick hotels has shown there is confidence in the tourism sector, local experts have said.
The four-star Fermain Valley Hotel is being bought by Hand Picked Hotels.
Braye Beach Hotel in Alderney is also being bought by the hotel group, along with Ziggurat Hotel in St Peter Port. Contracts have been exchanged on the purchase of the three hotels, subject to regulatory approval.
No sale price was given, although in 2018 the Fermain Valley Hotel was put on the market by Vista Hotels Group for £9m. It was listed with commercial estate agents Colliers International in 2018, with the 45-bedroom hotel now appearing as under offer on its website for £7.25m.
Hotel Ziggurat was listed with the same agency for £2.45m in 2018. The St Peter Port boutique hotel, which used to be known as Sunnycroft, has 14 bedrooms and a 60-cover restaurant.
On Colliers International’s website, it is now shown as under offer for £1.8m – with documentation noting it was offered for sale due to the owner’s focus on other business interests.
Hand Picked Hotel already owns and operates St Pierre Park Hotel as well as L’Horizon Beach and Grand Jersey Hotels and spas in Jersey, alongside a string of luxury hotels in the UK.
Hand Picked Hotels chairwoman and executive officer Julia Hands said that the three hotels would complement the 19 hotels already in the company’s portfolio.
‘I look forward to introducing [staff] to our guests and building upon a legacy so wonderfully established by their previous owner Derek Coates, who sadly passed away last year.’
Guernsey Hospitality Association president Alan Sillett said it was a vote of confidence in the Bailiwick’s tourism industry.
‘It’s very positive news because it secures the future for those venues as businesses and their importance to our industry,’ he said.
‘They [Hand Picked Hotels] seem a very well organised company with a local presence.’
Economic Development tourism lead Simon Vermeulen also hailed the purchase by the group as exciting news for Guernsey and Alderney.
‘Those hotels will be developed and run to very good and high standard, and I look forward to them filling those rooms up,’ he said.
