Fraser Gray, Scott Gaillie and Anne O’Keefe of advisory and restructuring specialists Zolfo Cooper and the Joint Administrators of Trinity Hotels (Newcastle) Limited are pleased to announce the sale of the Staybridge Suites Hotel to specialist hotel investor, Westmont Hospitality Group. DTZ, a UGL Company, handled the sale of the 128 room extended stay hotel in Newcastle, which was built in 2009 and was branded as a Staybridge Suites with InterContinental Hotels Group (IHG).
Commenting on the sale, Richard Candey, Head of DTZ’s Hospitality Group said: “The property attracted a good level of interest from independent investors and hoteliers as well as from specialist hotel funds, which demonstrates the attraction of a strong well performing asset and the confidence in the Newcastle hotel market.”
Graeme Smith, Partner and head of Zolfo Cooper’s hotel sector team added: “We are pleased to have secured the sale of the Staybridge Suites Hotel to Westmont Hospitality Group and believe that, given their knowledge and expertise of the hospitality sector, the hotel is well positioned for the future.”
