Christie Group PLC Sale of the Denia La Sella Golf Resort & SPA Hotel (0725F)

TIDMCTG

RNS Number : 0725F

Christie Group PLC

15 February 2018

15 February 2018

Christie Group plc

("Christie Group" or the "Company")

Christie & Co brokers the sale of the Denia La Sella Golf Resort & SPA Hotel

Christie Group plc (CTG.L), the leading provider of Professional Business Services and Stock & Inventory Systems and Services to the leisure, retail and care markets, is pleased to announce that Christie & Co, its specialist provider of agency and advisory services, has successfully brokered the sale of the Hotel Denia La Sella Golf Resort & SPA, a 5-star hotel located in Denia, the harbour city in the province of Alicante.

Christie & Co brought the hotel's purchase opportunity to the market after the signature of a mandate on an exclusive basis with the former ownership of the hotel (La Sella Group) and Amazona Investments, a joint venture between two privately managed investment funds.

The 5-star Hotel Denia La Sella Golf Resort & SPA, located only 7 kilometres away from the centre of Denia, is one of the most luxurious establishments in Alicante. The asset has 178 fully equipped rooms and 8 suites, 2 restaurants (Asador Montgó and Segaria Thai Restaurant) and 2 bars. It also has more than 1,400sqm available for events, a spa and gym area, outdoor pool and an annex golf course, which has also been acquired together with the asset.

The hotel, previously known as Marriott La Sella Hotel, was managed by the former owners under a franchise agreement with Marriott Hotels International until December 2016.

The new owner of the asset is a vehicle managed by Alantra, a specialised firm in financial advice and asset management whose investors have seen the hotel as an opportunity of asset repositioning, which will be managed on a rental basis by Gestión de Activos Turísticos (GAT).

GAT has extensive experience in the hotel sector, managing hotels in different national destinations (Hotel Cándido 4 * in Segovia, Hotel Buenavista 5 * in Toledo).

Inmaculada Ranera, Managing Director for Christie & Co Spain & Portugal, comments: "We are very proud to have been able to complete the sale of this asset, whose complicated financial situation has been a real challenge to bring this transaction to success. This opportunity received great interest, both nationally and internationally, given its exceptional characteristics."

Christie & Co report an active hotel transactions market in Spain having advised on several hotels sales in Spain over the last month, these include Bal Hotel & Spa in Villaviciosa and AC Hotel by Marriott in Lleida.

Enquiries:

Christie Group plc

 
     Inmaculada Ranera                                                                     [phone] 
     Managing Director - Christie & Co Spain & Portugal 
     David Rugg                                                                              020 7227 0707 
     Chairman & Chief Executive 
 
     Dan Prickett                                                                            020 7227 0700 
     Chief Operating Officer 
 

Panmure Gordon (UK) Limited:

Dominic Morley / Charles Leigh-Pemberton 020 7886 2906

Nominated Adviser & Broker

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 42 offices across the UK, Europe and Canada, catering to its specialist markets in the leisure, retail and care sectors.

Christie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins back to 1846, the Group has a long established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.

For more information, please go to www.christiegroup.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 16, 2018 02:00 ET (07:00 GMT)