A four-star hotel and wedding venue in Derbyshire has been sold for more than £2 million to a hotel chain opening its first UK venue. The Mercure Newton Park Hotel, in Newton Solney, was put on the market by Jupiter Hotels in October 2020, just months after the picturesque venue had undergone a £150,000 refurbishment.
The Grade II-listed property hotel was acquired by Jupiter in 2015 and in November 2019 the firm announced the venue had undergone a transformation, with 21 of the 50 bedrooms revamped. The bridal suite was “redesigned and upgraded” as part of the revamp.
But when it was among three Jupiter Hotels put up for sale during the Covid pandemic, a spokesperson for the operator said it was looking to focus “on other business interests”. Now, the 50-bedroom hotel which includes bars, restaurants, lounges and five meeting or events rooms, has been purchased by Raky Hotels for £2.2 million, Staffordshire Live reports.
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Raghav Duggal, owner of Raky Hotels, said: “We are delighted with our first UK hotel purchase and are excited to get going and take the hotel from strength to strength. This is the first of what we hope is many across the Midlands and are looking for other interesting propositions.”
Robert Smithson, associate director in Colliers’ Hotel Agency team said: “The Mercure Newton Park is a stunning country house hotel which was very popular prior to the pandemic and is expected to bounce back well as it benefits from a wide range of income streams from leisure to corporate and events.
“The level of interest in this asset once again highlights the popularity of hotels among investors despite recent global events. I wish Raghav the best of luck with this and his future endeavours.”
Newton Park Hotel is set in around eight acres of grounds and is one of the area’s most highly regarded wedding and events and tourist venues.
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