De Vere to sell golf resorts

The De Vere Group has put its six golf resorts up for sale, following Starwood's acquisition of its conference division earlier this year.

De Vere to sell golf resorts
De Vere to sell golf resorts

The portfolio of properties is expected to sell for around £160m and follows Starwood's acquisition of De Vere Venues, the group's conference division, in March for £232m.

The golf resorts for sale include Cameron House Hotel on the banks of Loch Lomond, Mottram Hall in Cheshire, Slaley Hall in Northumberland, Dunston Hall in Norwich, Belton Woods in Lincolnshire and Oulton Hall near Leeds. 

De Vere went into the hands of Lloyds Banking Group during the financial crisis in a £650m debt-for-equity deal.

Last month, De Vere also sold the Grand in Brighton for £50m.

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