On April 20, Millemont Capital Partners finalized the acquisition of two IHG Hotels & Resorts’ hotels close to London.
The London-based Millemont broke the news of the deal on LinkedIn and confirmed the two hotels are the 168-room Crowne Plaza Marlow and 174-room Crowne Plaza Reading. In an email to CoStar News Hotels, the firm said it did not want to divulge the exact price for the pair.
It is believed to be in the region of £80 million ($108 million).
According to CoStar, the seller of both is Reading-based Meridian Leisure Hotels, whose hotel interests were limited to the two properties sold.
Meridian acquired the Marlow hotel in Dec. 2016 for £26 million ($35 million), according to CoStar data.
IHG has been involved in the Reading hotel since 2010, and it changed the brand flag from Holiday Inn to Crowne Plaza in 2021.
The Marlow hotel has been a Crowne Plaza since it opened in 2002.
In its LinkedIn post, Millemont referred to the two hotels as “high-quality, full-service hotels totalling approximately 350 keys in the heart of the Thames Valley.”
Troo Hospitality will operate both hotels.