Graham + Sibbald’s Hotel + Leisure team led by Partner Martin Davis were instructed to act on behalf of the Directors of Seymour Hotels Limited to market and sell the Diglis House Hotel by way of a share sale transaction through to a successful completion.
WHY G+S
If you are looking to purchase a business then we can help you find the best options that will meet your strategic needs and budget. If you have a business or part of a business that you are looking to sell, we can help you maximise the worth of your assets and optimise your returns.
We are recognised as one of the leaders in this field across the UK. We work across a range of business types and sectors, but have particular expertise in the Hotel, Licensed and Leisure sector. As a result, we are retained by many of the UK’s leading hospitality and leisure groups to manage the sales and disposal of their business portfolios.
THE OPPORTUNITY
The 33 bedroom historic hotel is one of Worcester’s best known riverside landmarks and was owned and operated by our clients since 1994, under their stewardship it became known as one of the City’s most admired independent hotels.
The hotel is situated in a prime trading location in the heart of the city of Worcester fronting the River Severn, just a few minutes’ walk from Worcester’s many attractions including the Cathedral, Racecourse, County Cricket Club and University.
The established and highly profitable full service hotel features an elegant bar and restaurant as well as conference and banqueting facilities for up to 140 guests. The riverside gardens and terraces also provide alfresco drinking and dining space for guests to enjoy in the summer months.
The business was marketed and sold by way of a share sale transaction for an undisclosed sum off a guide asking price of £2,900,000.
APPROACH
Having owned and operated the hotel for more than 30 years our clients decided that the time had come for them to retire, and having known Martin Davis for many years, they instructed him to identify suitable potential buyers for their hotel.
Following an initial period of low key marketing our clients decided to offer the hotel by way of a full open marketing campaign and as a result of this exercise, the hotel was introduced to an experienced operator who owns and operates other hotels in the region.
Upon agreeing a sale, we worked with both parties together with their solicitors and accountants to agree the basis of the transaction and helped to overcome a number of issues during the due diligence process to see the transaction through to a successful completion.
VENDOR TESTIMONIAL
“Martin was instrumental in successfully completing the sale of our hospitality company. We approached him for professional, targeted representation. His involvement was key throughout the process.
He managed negotiations expertly between the seller and the buyer and efficiently liaised on all necessary information for the solicitors.
Martin provided a calm, independent point of contact for all delicate and important issues. He respected our wishes for a bespoke handling process. We personally recommend his services highly.”
– Julia Seymour
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