Member Article

Liverpool hospitality firm sold to US Interstate Hotels

Liverpool-based Sanguine Hospitality has sold its management platform to U.S. Interstate Hotels and Resorts for an undisclosed sum.

Sanguine was established in 2005 by North West entrepreneur Simon Matthews-Williams with the purchase of a £26m development at Cadbury House near Bristol, and the £6.35m acquisition of Hoole Hall in Chester.

The business has since expanded with the developments of new hotels, restaurants, a club and a spa under a number of different brands including Days Inn, DoubleTree by Hilton and Hotel Indigo.

Interstate Hotels and Resorts will acquire 14 hotels from the company with a total number of rooms over 1,900, which will be managed under long-term contracts with the existing brands.

The deal includes nine newly renovated hotels, which all opened within the past two years, and five hotels still under development.

Jim Abrahamson, chief executive officer of Interstate Hotels and Resorts, said: “It’s incredibly gratifying to see Interstate’s global footprint continue to grow, delivering on our overall expansion strategy.”

“This relationship strategically positions Interstate for abundant future growth and opportunities throughout the region, and our global operating experience paired with long-standing, beneficial relationships with top international brands promise a successful future between Interstate and Sanguine.”

Mr Matthews-Williams, added: “While we have enjoyed significant success through organic growth and a strong market reputation, our new relationship with Interstate puts us on an entirely new level and provides a platform to achieve step change growth.

“From our initial meetings, it was clear that Interstate identified Sanguine as a progressive, successful and ambitious business.

“We are confident that this is the right move at the right time, not just for the business, but also for our excellent staff and loyal customers across our portfolio.”

Chief investment officer for Interstate, Leslie Ng, commented: “Future projections for this market are robust, and with 14 hotels signed or opened thus far, Interstate is eager to manage this portfolio with high quality developers and solid fundamentals, improving every hotel’s bottom line.

“Sanguine upholds a strong reputation in Europe for outstanding developments, and as execute our global expansion strategy we anticipate success alongside our new partner, who has quickly established itself as one of Europe’s premiere developers of hotels.”

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