Norfolk Royale hotel sold to Alfa Leisureplex
Peel Hotels has sold its Norfolk Royale hotel in Bournemouth to coach operator Alfa Leisureplex Group for an undisclosed price.
Peel brought the 95-bedroom property to market last year with a guide price of £8.5m, which resulted in more than 20 formal viewings and a "sufficient" number of offers before Alfa Leisureplex Group secured the sale.
The new owner, Leisureplex Hotels, forms part of the employee-owned Alfa Leisureplex Group, which also includes the Alfa Travel and David Urquhart travel brands. The group operates 21 seaside hotels and a fleet of 50 luxury Mercedes Benz touring coaches across the UK and Ireland. The Norfolk Royale will be the 22nd hotel to join the group's portfolio.
The property is the former home of the Duke of Norfolk and has undergone a multimillion-pound refurbishment in recent years.
Emma Russell, managing director of Alfa Leisureplex Group, said: "We are very excited to be opening the doors to the Norfolk Royale as one of our own today. The hotel is excellently located in Bournemouth and offers a high standard of accommodation, so we're looking forward to incorporating that Leisureplex experience that our guests know and love throughout the property."
Robert Peel, executive chairman of Peel Hotels, said: "Peel Hotels has been the proud owner of the Norfolk Royale for a good number of years and we are very pleased to be able to pass the baton of ownership to Alfa Leisureplex, who I know to be a very good operator of hotels across the UK."
Ed Bellfield, regional director at Christie & Co, who brokered the deal, added: "The sale of the Norfolk Royale hotel represented an exceptional opportunity to acquire a highly successful hotel business with significant repeat patronage. The reputation and success of the business is testament to the stewardship by Peel Hotels over recent years combined with its enviable town centre location. We congratulate Alfa Leisureplex Group on their purchase of an iconic south coast resort hotel."
Peel told The Caterer earlier this year that any of its six hotels were up for sale for those willing to pay "the right price" as the company aimed to pay off its debt, which accounted for 25% of the group's asset value.
The group also brought its Midland hotel in Bradford to market with a guide price of £3m, the Caledonian hotel in Newcastle, and the George hotel in Wallingford. Peel Hotels' remaining portfolio also includes the Bull in Peterborough and the Crown & Mitre in Carlisle.
