Royal Crescent in Bath is latest Von Essen hotel to be sold

by Janet Harmer , Friday 30th March 2012 18:22

The 29-bedroom Royal Crescent hotel in Bath - one of the trophy assets in the collapsed Von Essen portfolio of hotels - has been sold for a rumoured £18m to private international investment company the Topland Group.

The Grade I-listed hotel was originally put on the market for £22m after Von Essen went into administration with debts of nearly £300m in April 2011.

Topland will be appointing Vision Asset Management to manage the operations of the hotel on its behalf.

Group chairman Sol Zakay commented: "We are delighted to include this truly exceptional luxury hotel in our ever-expanding hotel portfolio. Once again Topland has utilised its war chest to 'purchase for cash' and will continue to do so in order to expand its portfolio in the coming months."

Located in the heart of the Royal Crescent - one of the most widely recognised architectural landmarks in Bath - the hotel came close to being purchased by Ian and Richard Livingstone, the billionaire property developer brothers whose London & Regional bought another Von Essen trophy hotel, Cliveden, to add to Chewton Glen.

There are now just four hotels - Sharrow Bay, Seaham Hall, Ston Easton Park and Congham Hall - remaining to be sold from the original portfolio of 27 Von Essen hotels.

Topland's hotel portfolio includes the 319-bedroom Hilton Glasgow, which it bought in September 2011 for £35.7m.

Cliveden tops the price tag on Von Essen hotels >>

Von Essen buys Cliveden and Royal Crescent for more than £50m >>

Cliveden sale to complete tomorrow as new owners promise to return property's sparkle >>

By Janet Harmer


E-mail your comments to Janet Harmer here.

TabletalkIf you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.catererandhotelkeeper.com/tabletalk

Catererandhotelkeeper.com jobs

Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs


Blogs on Catererandhotelkeeper.com

Catch up with more news and gossip on all Caterer's blogs

E-Newsletters


For the latest hospitality news, sign up for our E-newsletters

 


Featured video - for more, visit Caterer and Hotelkeeper’s YouTube channel >>

    Caterer and Hotel Keeper Jobs
    Most ReadLatest Articles
    Most ReadMost Viewed Articles
    Related Industry Resources
    Sign up to Caterer and Hotelkeeper
    Mobile Site
    Also on Caterer and HotelKeeper
    Blogs