Cerberus has been among the most prolific pub acquires in the last two years, having acquired 102 Sp

The Travelodge hotels including 11 in London and almost best boutique hotels in new york city half by rental contribution derived from the capital and the South East region -   formed part of the Grove portfolio which was marketed for consensual sale   by consortium owners, Prestbury Investment Holdings,  Tom Hunter’s West Coast Capital, the Reuben Brothers’ Aldersgate Investments.
The acquiring consortium, which each purchased an equal one-third best boutique hotels in new york city stake in the 144 hotels, are the existing owners of Travelodge after rescuing the hotel company two years ago with a debt-for-equity restructuring which included writing off £235m of debt.
The Grove Travelodge hotels comprise more than 8,256 rooms, including 80 hotels along the country’s A roads, 23 along motorways, 11 hotels are in Greater London, 11 are in city centers and 19 are in edge of town locations.
The large proportion of the Grove pubs in the Greater London area provides Cerberus with the opportunity to convert certain assets into high-end residential, a market which continues to benefit from sustained domestic and overseas demand.
All the pubs are currently over-rented, but this is expected to be recalibrated closer to open market rental levels over the next decade as fixed five-yearly upward-only rent reviews are capped, progressing to open market best boutique hotels in new york city revaluations from between March 2022 and 2023.
Cerberus has been among the most prolific pub acquires in the last two years, having acquired 102 Sprit pubs for £170m and 32 Punch Taverns for £33m from the same vendor consortium in February. Back in January 2012, Cerberus also acquired 1,100 Admiral Taverns from Lloyds Banking best boutique hotels in new york city Group for £200m.
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