The FINANCIAL — The world-renowned golfing hotel and resort the Belfry, which has hosted the Ryder Cup four times, has been put up for sale, according to Caterer and Hotelkeeper.
The 324-bedroom hotel, set within a 550-acre resort in Warwickshire, is currently owned by Irish businessman Sean Quinn, who is currently facing bankruptcy in the republic after having his bankruptcy status in Northern Ireland annulled.
It is believed that the Belfry, which is carrying £105m of debt, has been put on the market by its lenders – Bank of Ireland, Barclays and Certus.
Quinn bought the resort in 2005 for £186m from De Vere. However, his plans to redevelop the Belfry and create a new 500-bedroom, five-star resort at a cost of £200m in its place never got off the ground as the Quinn family lost a fortune in the Irish property crash.
Commercial property agent Jones Lang LaSalle Hotels has been appointed to market the resort, which has three 18-hole golf courses – including the Brabazon course on which the Ryder Cup was last played in 2002 – extensive corporate conference and meeting facilities, a spa and newly-refurbished Health & Wellness leisure club, on-site nightclub and the headquarters of the PGA.
Nigel Gray, managing director of the Belfry, said that he was confident that new owners would be found, allowing the hotel and resort to develop and grow.
Last year the Belfry was named England's Leading Golf Resort at the World Travel Awards.