Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
The von Essen hotels group may be broken up unless a bidder with around £200 million to spend is found in the next six weeks.
A portfolio of 26 UK hotels and one property in Lyon is on the market after the luxury hotels group entered administration in April. The properties being sold exclude four hotels that are retained by von Essen founder Andrew Davis. It is hoped to attract a bidder for the entire main portfolio, with first round expressions of interest due by the middle of July.
However, a spokesman for commercial property agents Christie & Co said individual hotels, such as Cliveden, may attract significant interest from stand-alone bids.
“In an ideal scenario, we would like to sell the entire group, however given the historic nature of some of them and the international renown they have we may get separate interest in them coming through,” he said.
The spokesman added that the sales process “would take as long as it takes” following the initial bid submission. “It’s an exciting instruction for us and a once in a generation opportunity to acquire a portfolio like this.”
Von Essen’s entry into administration followed difficulties with interest payments on a £250 million debt and high overheads resulting from the upkeep of historic properties.