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Holiday firm Shearings has bought the 69-bedroom Liberty’s Hotel in Blackpool, Lancashire, for close to the £3m asking price. The hotel was sold by owner Michael Robinson, whose family have owned it since 1994, through agent Christie & Co.
The purchase of the Blackpool property by Shearings follows that of the 50-bedroom Strathmore Hotel in Morecambe, Lancashire, last month, for nearly £1.65m, through the same agent.
Meanwhile, the holiday firm is to sell its 59-bedroom Abernant Lake Hotel in Llanwrtyd Wells, Powys, to a North Wales hotelier, again through Christie & Co, for very close to the asking price of £950,000.
Shearings owns 37 hotels in England, Wales and Scotland, and has made 15 acquisitions since 1996.
The company’s venture capital backers are currently considering floating Shearings on the alternative investment market in a bid to raise about £50m.
Some of that cash could be used for further acquisitions, including a hotel in Scarborough, North Yorkshire.Althernatively, Shearings could be the target for a trade sale.