Bedford Swan hotel purchased by Distinct Group for £11.5 million
The Distinct Group has purchased the the 113-bedroom, Grade II-listed Bedford Swan hotel from BDL Select Hotels for £11.5 million, bringing the group’s portfolio to two hotels.
Gareth Leakey, group manager of Distinct Group, said: “The strategy for the group now is to grow the hotel estate further following the sale of our pubs in December last year. We are eager to start a complete refurbishment of the Bedford Swan hotel, which will include a food and beverage offer, meeting and event spaces, bedrooms and upgrade of the spa facilities.”
Gavin Wright, director hotel & hospitality at JLL, commented: “This was an excellent opportunity to acquire a prime town centre hotel. Combined with established leisure, conference, wedding and banqueting business, it has proven to be attractive to investors. The interest received is reflective of the continued demand from both domestic and overseas buyers seeking good quality regional hotels.”
This move marks an increased focus on the hotel sector for the group, with future plans to make other acquisitions in the hotel sector. The purchase follows the sale of four London pubs to Laine Pub Company in December 2017.
