Christie completes 2 landmark Spanish hotel deals

RNS Number : 1133B

Christie Group PLC

14 February 2011

 



14^th February 2011

Christie Group plc

Christie + Co completes two

landmark Spanish hotel deals

Christie Group plc, (the "Group"), the leading provider of professional business services and stock & inventory systems & services to the leisure, retail and care markets, announces that Christie + Co, the Group's transaction and advisory practice, has completed the successful sale of two landmark Spanish hotels in two separate transactions, for a combined sum in the region of €65 million.

Christie + Co sold the freehold of the 5-star, 304 bedroom Hilton Hotel Valencia, in Spain's third largest city, to Continental Property Investment, the Paris-based, investment company. It has also acted on behalf of Spanish hotel chain Set Hotels in the sale of the five-star hotel El Rompido Golf, on the west coast of Huelva, to Precise Hotels Collection, the Berlin-based hotels group.

Hotel El Rompido Golf is a stunning five-star, 184-bedroom hotel with 12 suites, based in the El Rompido Golf & Beach Resort, one of the most outstanding resorts in Costa de la Luz. The purchase of the Hotel El Rompido Golf marks Precise Hotel's debut in Spanish hotel market.

Chris Day, International Managing Director at Christie + Co, said: 

"These are landmark transactions where we were able to generate significant interest from a range of buyers, including those investing in Spain for the first time.

"These deals highlight the strength of service that Christie + Co can provide to its clients through its pan-European network of offices.  In the case of the Hilton Valencia, the deal entailed bringing together a Spanish-based hotel, a German bank and a buyer based in France.

"As trading performances continue to improve across Spain, the demand for such assets will continue to grow.  It is of paramount importance that the marketing and transaction processes are cohesively managed to ensure successful completion of transactions where the opportunities present."

Enquiries:

David Rugg                                                     020 7227 0707

Chief Executive

Christie Group plc

Russell Cook / Carl Holmes                           020 7149 6000

Charles Stanley Securities

Nominated Adviser & Broker

Tom Cooper                                                    0797 122 1972

Winningtons                                                    [e-mail] 

Notes to Editors:

Christie Group plc (CTG.L), quoted on AIM, is a leading professional business services group with 31 offices across the UK, Europe and Canada, catering to its specialist markets in the leisure, retail and care sectors.

Christie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - Christie + Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins back to 1846, the Group has a long established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's agency business.

For more information, please go to www.christiegroup.com.

 

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