Belfry hotel and resort, Ryder Cup venue out for sale
It might be hard to believe for many but the Belfry hotel and resort, which has interestingly been the four-time home for the Ryder Cup, is being held for sale.
Valued at a whooping 90 million pounds the venue has been the place for the grand event in the years 1985, 1989, 1993 and 2002.
The venue, which was named as England's Leading Golf Resort at the World Travel Awards last year, is being said to initiate a successful series of different ventures that could require selling of other similar venues.
According to the Managing Director of Belfry, Nigel Gray, "New owners are being sought for The Belfry and we are extremely confident this will prove to be successful. The Belfry is a highly profitable business which has just enjoyed a successful 2011, with figures up on 2010 levels”.
It is also important to mention here that Gray has also clarified his position of selling the place.
He termed it as business as usual and an optimistic prospect that would further harbinger other such projects that are already in the pipeline.
In addition, arrangements have also been made to ensure and guarantee proper development of the venue.
It spans over a massive 550-acre area and comprises of 324 rooms, along with golf courses, corporate meeting rooms, refurbished health and spa facility, and a leisure club.
Likewise, it is equally essential to have a look at the history of Belfry that was bought by the Quinn group in the year 2005 for 186 million pounds.
It was because of this purchase that Mr. Quinn had to forcefully declare himself bankrupt, owing to the possible litigation he faced at the hands of Irish Bank Resolution Corporation.
The dispute between IBRC and the Quinn family is still underway on the issue of overseas assets.
According to George Nicholas, who belongs to Jones Lang LaSalle Hotels, "The Belfry is an iconic golf destination, combining an internationally recognised brand with a successfully trading business”.
It is being expected that Asian investors will show considerable interest in striking a deal because of the low cost of the British pound at present.
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