Buyout of Cresta Court Hotel Property Ltd
“It’s always a pleasure to see a deal from original acquisition and investment to a successful exit for Riverside and its investors”.
We are pleased to have acted for the Riverside Capital Group on the £8m MBO of Cresta Court Hotel Property Ltd (“Cresta Court”), backed by Vine Hotels Ltd.
Cresta Court is a Best Western hotel and wedding venue in Altrincham. Since the acquisition of the hotel in February 2013 (EMW also representing Riverside and its investors), the 140-bedroom hotel has been significantly upgraded, leading to a 2x equity return to investors. The hotel offers a beauty salon, three banqueting suites and 11 conference suites accommodating up to 300 delegates.
Ashley Wilcox of Riverside said “We’ve had a great relationship with the Vine Hotels team with whom we have joint ventured on two highly successful hotel projects. EMW looked after us with their usual mix of thought and pragmatism.”
If you would like to find out more about this deal, please contact Nick Lloyd.