The Ramada Hotel on High Street in Loughborough has been sold in a deal worth £2m.
The three-star Ramada Hotel has 78 en-suite bedrooms, alongside public areas including the ‘Courtyard’ restaurant, five conference rooms, and a private car park for 65 cars.
The new owners, who wish to remain anonymous, have a small portfolio of similarly sized hotels and say they aim to take the hotel onto the next level of success.
Jonathan Wren, director with selling agents Colliers International said: “The Ramada has been operated since 2000 by experienced hoteliers who, during their period of ownership, invested considerable time and money undertaking a rolling refurbishment of the facilities, and establishing an excellent reputation within the Ramada family of hotels. Living as they did, a considerable distance from Loughborough, the Owners decided to sell to concentrate on their other business interests.
“The sale of the Ramada Hotel in Loughborough is further evidence of the improving hotel market. With the major banks once again looking to invest into the sector we are anticipating a busy 2016.”