THE four star, 110-bedroom Holiday Inn Bromsgrove has been acquired out of administration by Kew Green Hotels. Previous owner Pedersen (Bromsgrove) Ltd collapsed in October last year as part of a multi-failure in the Pedersen group, whose affected hotels were described at the time as "well run and generating profits unable to service the level of debt finance owed".

Holiday Inn Bromsgrove was brought to market earlier this year by specialist property adviser Christie and Co on the instruction of David Oprey, Richard Toone and Adrian Hyde from Chantrey Vellacott, joint administrators of Pederson (Bromsgrove) Limited. High interest in the hotel saw multiple viewings and offers, with the final sale price being above the £3.95m asked for it.

Gavin Wright, director of hotels in Christie and Co’s Birmingham office, said: "The Holiday Inn Bromsgrove is an excellent acquisition for Kew Green Hotels, adding to its 18 other Holiday Inn-flagged hotels. It is a well-invested, purpose-built hotel with extensive leisure, meeting and conference facilities, so meets all the requirements of the serious operator. The sale above the asking price is indicative of a growing strength in the UK hotel market, with sites both in London and regions such as Birmingham generating great interest and good prices.”

Paul Johnson, chief executive of Kew Green Hotels, added: "We are very pleased to have added this hotel to our growing portfolio of 24 owned and 12 managed hotels throughout the UK. We look forward to working with the hotel team to reinforce its position as the leading full service hotel in Bromsgrove, for both business and leisure travellers alike.”