Village Hotels, hotel business and leisure club operator founded in 1995, based in Warrington - Cheshire - England - UK that operates several accommodations in Great Britain has purchased the former Crowne Plaza site at Caversham Bridge in Reading, large town and borough in Berkshire on the Thames and Kennet rivers in southern England with CBRE Group, Inc, American commercial real estate services and investment firm based in Dallas - Texas - U.S. advised on the sale of the hotel.
The property, acquired from Brightbay Real Estate Partners, British property investment business headquartered in Douglas – Isle of Man - UK , affiliate since 2021 to Starwood Capital Group, investment firm based in Miami - Florida - U.S. will undergo a multimillion - pound renovation in line with Village brand.
The acquisition of the former Crowne Plaza situated on the banks of the River Thames, a 5 – minute drive from the centre of Reading and offering easy connection to Central London forms part of a wider investment program launched in September 2024 which will see Village Hotels upgrade more than 50% of its portfolio, including rooms and facilities extensions, refurbishments to existing bedrooms and upgraded leisure and fitness offerings.
Hotel's services will include include electric vehicle charging points will also be installed across Village’s 33 UK locations with the addition of Caversham Bridge, it takes the portfolio to 34 hotels.
The CEO of Village Hotels Gary Davis said that the group is delighted to take the ownership of its new site in Reading, building on the company successful conversion in Bracknell, the acquisition in another example of significant investment in the area and creates an opportunity to bring Hotel Village, unique and differentiated proposition to guests and local audiences alike.
Village Hotels offers several amenities and facilities under one roof, including bedrooms, Pub & Grill, meeting and event space, a Starbuck coffee shop and health and wellness spaces.
Link - https://boutiquehotelnews.com/news/hotel/village-hotels-reading/
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