Dalata Finalises Deal For Four-Star Hotel in Birmingham
Dalata Hotel Group has announced that it has agreed the deal with Deka Immobilien for the sale and leaseback of the Hotel La Tour in Birmingham for £30 million (€33.2 million).
Late last month, Dalata announced it had acquired the entire issued share capital of Hotel La Tour Birmingham for £31m (€34.9 million).
Dalata will now operate the hotel on a new lease for a 35 year term. The agreed initial rent for the property is £1.6 million per annum and will be subject to five yearly rent reviews.
Hotel La Tour is a four star hotel, located within walking distance of Birmingham New Street Station in the centre of the city. Newly built in 2012, the hotel has 174 bedrooms, a restaurant and bar, as well as extensive conference and meeting facilities. The hotel will be rebranded as a Clayton hotel in the final quarter of this year.