Exeter's Magdalen Chapter Hotel sold

Exeter's Magdalen Chapter Hotel has been bought by Frasers Hospitality, the hospitality arm of Frasers Centrepoint Limited, in a portfolio of four properties in the UK for a consideration of £36.1 million from Swire Properties Hotels Holdings through the Group’s subsidiary, Malmaison and Hotel du Vin Property Holdings Limited.

This acquisition comes on the back of Frasers Hospitality’s recent purchase of the Malmaison and Hotel du Vin group which comprises 29 upscale lifestyle boutique hotels for £363.4 million in June this year, providing Frasers Hospitality a platform to further expand into the fastest growing hospitality segment. 

Mr Choe Peng Sum, CEO, Frasers Hospitality said, “These four stylish and iconic hotels in their respective cities are a perfect fit for Malmaison and Hotel du Vin, and this acquisition is clearly in line with the Group’s expansion strategy of the brands within the UK, Europe and Asia.  With these two best-in-class lifestyle brands, we are on track to achieve our goal of operating 30,000 keys by 2019.”

The hotel will continue to operate under the existing name until 2016 when development plans will be revealed

The Magdalen Chapter was formerly The West of England Eye Hospital. The 59-room hotel also offers a spa and swimming pool.

Mr Paul Roberts, CEO of Malmaison and Hotel du Vin aid: “It was immediately apparent that they shared the approach and value of our brands with passionate employees determined to make every guest experience in unique settings a memorable one.”

The inclusion of the four properties - the other three being Avon Gorge Hotel in Bristol, Montpellier Chapter in Cheltenham and Hotel Seattle in Brighton - brings Frasers Hospitality’s global portfolio to 136 properties across 78 cities and over 22,000 keys worldwide.