Redfine|BDL hotels to manage Aprirose luxury portfolio following sale of QHotels

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Redfine|BDL (RBH) has taken on management of 26 QHotels on behalf of new owners, real estate investment company, Aprirose.

The hotel portfolio has an annual turnover of £190m and was  acquired by Aprirose from QHotels in a £525m deal.

The contract represents the continuation of a partnership with Aprirose, which owns Hampton by Hilton London Docklands and Mercure Bristol Holland House and Spa – already part of the RBH portfolio.

RBH will have 75 hotels under management following the deal, including a mixture of branded and private label properties – bringing together 11,000 rooms across the country.

The QHotels portfolio includes luxury hotels and leisure resorts boast facilities including spas at 24 of the properties and golf courses available to club members at 10 of the hotels.

Helder Pereira, chief executive officer of Redefine|BDL Hotels, said: “This is another landmark addition to the Redefine|BDL Hotels portfolio. Leisure amenities such as spas and golf facilities represent key revenue streams for us, so we are very pleased with the quality and prestige of the properties we will now be managing.”

Aprirose CEO Manish Gudka, said: “The QHotels portfolio is a made up of a diverse set of assets to add to our multi-faceted real estate portfolio. The 26 QHotels, located throughout the UK, make up 3,680 beds and represent the largest hotels acquisition in 2017.

“We have established a successful partnership with Redefine|BDL Hotels, which was appointed both on our Hampton by Hilton London Docklands and Mercure Bristol Holland House hotel assets, so the new properties will be operated to the same excellent standards.

“Each of the new Aprirose properties being managed by RBH are completely unique, and include the iconic Midland Hotel in Manchester, Mottram Hall Hotel in Cheshire, Slaley Hall in Northumberland, Chesford Grange in Warwick and Forest Pines Hotel & Golf Resort in Yorkshire.”

Aprirose bought QHotels from its private equity owners, Bain Capital Credit and Canyon Partners.

QHotels was set up in 2003 and private equity funds took control of the company in 2014 after buying its debt from the Irish ‘bad bank’ put in charge of Anglo Irish.

The sale price is considerably under the £650m reportedly being asked for the portfolio earlier.

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