Sir David Michels announces the Acquisition of Lea Marston Hotel and The Abbey Hotel to his Fund Portfolio03rd August 2017
Hotelier and ex-Hilton chief, Sir David Michels has announced the acquisition of Lea Marston Hotel in Sutton Coldfield, Warwickshire and The Abbey Hotel in Redditch, Worcestershire to his expanding portfolio.
Sir David Michels has commented; “It gives me great pleasure to announce that Lea Marston Hotel and The Abbey Hotel are becoming a part of Michels Ventures Limited. We are very enthusiastic about the plans we have in store for each of the properties and we look forward to growing the business and working with the teams at each of the hotels”.
The hotels will become the latest properties to benefit from his £200m hotel investment fund, Michels Ventures Ltd. Both four star properties are in the heart of the Midlands, The Abbey Hotel and Lea Marston Hotel and will be managed by M&T Hotel Management.
Previous owners, who operated the business under RSM Leisure, the Blake family, are now retiring after running the properties for 25 years. Both hotels feature restaurant, spa, leisure and golf facilities as well as event and function spaces.
The fund used to obtain The Abbey Hotel and Lea Marston Hotel is headed by Sir David Michels. Operating as Michels Ventures Ltd. The fund aims to acquire individual hotel assets such as The Abbey Hotel and Lea Marston Hotel, which when combined with improved management, can deliver significant trading improvements in the short to medium term.