Hastings Hotels for sale – estimated price tag of £200m
The family-owned Northern Irish hospitality group comprises iconic hotels such as Culloden Estate & Spa and Europa hotels.
As first reported in The Sunday Times, the firm behind iconic hotels such as Culloden Estate & Spa and the Europa, has appointed PwC to handle the sale, which has estimated the value of the group between £180m and £200m.
Hastings Hotels is now in its third generation of family ownership and has grown to encompass six hotels across the region, including Stormont Hotel, Ballygawley Castle in Co Antrim and the Everglades Hotel in Londonderry.
It was founded by the late Sir William Hastings in 1966 when he acquired two hotels, with Stormont Hotel still part of the portfolio today.
In 1993, he purchased the Europa Hotel and invested heavily in its transformation.
He received a Knighthood in 2009, having already been awarded a CBE and an OBE. The University of Ulster awarded him an honorary Doctor of Letters in 1998.
Hastings Hotels is now overseen by managing director James McGinn, who was awarded an MBE earlier this year.
Europa Hotel owner planning 11-storey serviced apartment scheme in Belfast
It has also been reported recently that Hastings Hotels is planning to build a serviced 11-storey apartment and office scheme close to two of its Belfast hotels.
Hastings Hotels, owners of the nearby Europa and Grand Central Hotel, wants to knock down Blackstaff Chambers, a former linen warehouse dating back to the 1860s, at Amelia Street in the city centre to develop a new 46 bedroom serviced apartment scheme.
Investment in developing the building could be worth £16m.
The scheme proposes a new retail unit on the ground floor, with high quality one and two bed serviced apartments on intermediate floors, and a top two floors of office accommodation.
The vision for the development is to provide much needed short-term accommodation in a strategic city centre location through the provision of one and two-bedroom units, booked and managed centrally by William Hastings (Belfast) Limited, further supporting and supported by both their adjacent hotels.
