Holiday Inn changes hands
A well-known landmark has changed hands.
The Holiday Inn-Luton South hotel in Markyate, on the A5 has been bought by growing hotel operator Vivek Chadha from Nine Hospitality.
It is his 11th hotel and he has plans to invest substantial sums into the 140- bedroom hotel while retaining the Holiday Inn branding.
Mr Chadha said: “We are delighted to acquire this highly strategic hotel to add to our growing portfolio and look forward to investing and driving the business forward.”
The hotel was extended in 2000 with an additional 49 bedrooms and leisure facilities. It was rebranded as a Holiday Inn in 2005 and operates as a Holiday Inn under a franchise agreement with InterContinental Hotels Group PLC. Alex Campbell, Director at Christie & Co said it had been solf in excess of its £6.85m asking price.