Hotel and leisure club operator Village Hotels has bought the former Crowne Plaza property at Caversham Bridge in Reading.
Purchased from Brightbay Real Estate Partners, a subsidiary of Starwood Capital Group, the property is undergoing a multimillion-puta renovation to match the Village brand.
This acquisition is part of a broader investment program launched in September, which aims to update more than 50% of Village’s portfolio. The plan includes expansions of bedrooms and facilities, renovations of existing rooms, and improvements to the leisure and fitness offerings.
Electric vehicle charging points will be installed at 33 Village locations across the UK, and with the addition of the Caversham Bridge site, the range will increase to 34 locations.
Gary Davis, Chief Executive of Village Hotels, said: “We are delighted to be taking ownership of our new site in Reading. Building on our successful conversion of Bracknell, the acquisition is another example of significant investment in the area and creates the opportunity to bring our unique and differentiated offer to both visiting and local audiences.”
Global real estate advisor CBRE provided instructions for the sale of Crowne Plaza Reading.
Village Hotels offer a range of amenities and services under one roof, including comfortable bedrooms, a Pub & Grill restaurant, meeting and event facilities, a Starbucks coffee shop and health and wellness areas.
