De Vere Group PLC
07 January 2004
Embargoed for release - Wednesday 7 January 2004
De Vere Group Plc
Sale of four hotels commences
De Vere Group Plc today announces its intention to sell four hotels: the De Vere
Bellhouse, De Vere Dormy and two early Village Hotels at Swindon and Prestwich
which no longer fit the brand profile. The decision to commence the sales
process for these four sites follows an initial review of the hotels portfolio
conducted over the past three months with the aim of driving improved returns
across the Group. The four hotels have a book value of approximately £40million.
Jonathan Glass / Simon Sporborg Brunswick 020 7404 5959
Notes to Editors
De Vere Group overview
De Vere Group Plc is a focused hotel and health & fitness business with three
core and complementary operations: De Vere Hotels, Village Leisure and Greens.
De Vere Hotels is an upmarket, primarily provincial hotel chain targeted at the
conference, corporate and leisure markets. There are 21 De Vere Hotels,
including 13 golf courses and the majority have extensive leisure facilities.
Twelve associate hotels enjoy access to the Group's marketing and central
reservations services and are included in De Vere hotel brochures. In addition,
De Vere Resort Ownership, the UK's largest five star lodge operator, has 132
Village Leisure Hotels is a unique mix, with each Village consisting of a
mid-market, c100-bedroom hotel, 40,000 square foot health & fitness club and
extensive food and beverage operations. There are currently 14 Villages with
more under construction and further sites in the pipeline.
Greens is the De Vere Group's stand-alone health & fitness club brand. The clubs
are large (40,000 square feet each) with spacious, well-equipped gyms, 25-metre
pools, aerobics studios, steam rooms, saunas and spas. It is targeted at adults,
rather than families, and is aimed at the premium end of the market. The first
Greens opened in July 1999 and there are now 15 in operation.
This information is provided by RNS
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