CBRE Hotels have been instructed by Kew Green Hotels to market the 218 bedroom purpose built Courtyard by Marriott London Gatwick Airport. The hotel opened in April 2009 and is the flagship Courtyard by Marriott hotel in the UK.
This property provides an excellent opportunity to acquire a new build hotel asset at the UK’s second busiest airport at a time when there are few other quality assets on the market. The hotel has been developed in line with Courtyard by Marriott standards and includes 218 bedrooms, a fitness centre, restaurant, bar, business centre and parking for circa 150 cars.
Paul Johnson, Chief Executive Officer of Kew Green commented “The Courtyard by Marriott London Gatwick Airport is a high quality branded hotel in an unrivalled location at the South Terminal of the airport. Since we opened last year demand has boomed and the hotel now achieves about 90% occupancy year round. Demand for high quality assets like this is very strong and following expressions of interest from a number of parties, we have decided to market the hotel through CBRE Hotels.”
Craig Millward, Director of CBRE Hotels commented “This hotel has opened into a difficult market and quickly established itself and secured excellent market share due to its outstanding location and product quality. As the trading and economic environment continues to recover in and around London combined with the expected growth in passenger numbers at Gatwick there is excellent potential for a purchaser to realise a strong return on their investment.”
The sale of the hotel will be subject to the franchise and related agreements with Marriott International, Inc. and its affiliates. Courtyard by Marriott is a registered trademark of Marriott International, Inc.
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