11 Hospitality has acquired the Holiday Inn Birmingham Airport – NEC from Crest Hotels, off the guide price of £33m.
The full service hotel features 241 bedrooms, 14 meeting and conference rooms, as well as extensive leisure facilities and Marcos restaurant and bar facilities.
The hotel, that also comes with substantial on-site parking, will continue to operate subject to a franchise agreement with InterContinental Hotel Group (IHG) under the Holiday Inn brand.
Located at Birmingham Airport the primary international airport in the region which recorded 12.5 million passengers movements in 2018. The National Exhibition Centre is located approximately one mile from the hotel and is the largest exhibition facility in the UK, attracting over 3 million visitors per annum.
Jason Hiley, on behalf of the Directors at Crest Hotels, said, “The sale is part of a wider strategy to look for new opportunities after 14 very successful years of ownership. The strength of the business is a testament to the great team at the hotel, and the company is truly grateful for their hard work and dedication.”
Gavin Wright, director, Hotels & Hospitality at JLL, commented, “We are thrilled to have completed on this high profile sale. The Holiday Inn has benefitted from significant investment and development since Crest Hotels acquired it in 2005.
'Birmingham offers strong investment opportunities, supported by the forthcoming Commonwealth Games in 2022 and the high speed rail link HS2 scheduled for 2026. This sales represents the largest single asset sale in the region during 2019 and follows our recent sale of the Hilton Garden Inn, Birmingham Airport in 2018”.