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UK: Hotel and leisure club operator Village Hotels has purchased the former Crowne Plaza site at Caversham Bridge, Reading.
The property, acquired from Brightbay Real Estate Partners, an affiliate of Starwood Capital Group, will undergo a multimillion-pound renovation in line with the Village brand.
It forms part of a wider investment programme launched in September which will see Village upgrade more than 50 per cent of its portfolio, including bedroom and facility extensions, refurbishments to existing bedrooms, and upgraded leisure and fitness offerings.
Electric vehicle charging points will also be installed across Village’s 33 UK locations. With the addition of Caversham Bridge, it takes the portfolio to 34 sites.
Gary Davis, CEO of Village Hotels, said: “We are delighted to take ownership of our new site in Reading. Building on our successful conversion in Bracknell, the acquisition is another example of significant investment in the area and creates an opportunity to bring our unique and differentiated proposition to guests and local audiences alike.”
Global real estate advisor CBRE advised on the sale of the Crowne Plaza Reading.
Village Hotels offers several amenities and facilities under one roof, including bedrooms, a Pub & Grill, meetings and events space, a Starbucks coffee shop, and health and wellness spaces.
Appeared first on: boutiquehotelnews.com
