Member Article

Staybridge Suites hotel sold on

Newcastle-based hotel, Staybridge Suites, has been sold to international investors Westmont Hospitality Group after the hotel owners, Trinity Hotels Ltd, went into administrations earlier in 2012.

Joint administrators, Fraser Gray, Scott Gaillie and Anne O’Keefe, of Zolfo Cooper, announced the sale on Wednesday, which will see the 128 suite hotel passed over the Westmont.

UGL’s property specialist company, DTZ, handled the sale of the three-year old hotel, which was branded as Staybridge Suites with InterContinental Hotels.

The head of DTZ’s hospitality group, Richard Candey, said: “The property attracted a good level of interest from independent investors and hoteliers as well as from specialist hotel funds, which demonstrates the attraction of a strong well performing asset and the confidence in the Newcastle hotel market.”

Graeme Smith, Partner and head of Zolfo Cooper’s hotel sector team also commented: “We are pleased to have secured the sale of the Staybridge Suites Hotel to Westmont Hospitality Group and believe that, given their knowledge and expertise of the hospitality sector, the hotel is well positioned for the future.”

This was posted in Bdaily's Members' News section by Miranda Dobson .