Abu Dhabi Investment Authority is selling a portfolio of five regional hotels, operated by Marriott, for £35m.
Christie & Co is marketing the hotels, which are available free from branding and management.
The properties are the 82-bedroom Sunderland Marriott Hotel; 178-bedroom Newcastle Marriott hotel Gosforth Park; 94-bedroom Sprowston Manor Marriott hotel and country club, Norwich (pictured); 122-bedroom Hollins Hall Marriott hotel and country club, Bradford; and the 113-bedroom Meon Valley Marriott hotel and country club, Southampton.
ADIA has embarked on a process of selling off its smaller real estate holdings. In October, it sold office building Saltire Court in Edinburgh for £71m to Al Rashed and separately it is in the process of selling its Regent’s Quarter complex near King’s Cross station, N1, for £270m.
In 2016, all hotels achieved more than 100% RevPAR index, with three properties achieving RevPAR index in excess of 120%.
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