Stellar Asset Management has sold its Holiday Inn Express, an IHG hotel in Folkestone, Kent, to London & Regional off a guide price of £8.5m.
The hotel has been sold with a franchise agreement with IHG and without management involvement to L&R, which will add the property to its Atlas portfolio.
The 100-bedroom hotel sits on 1.1-acre site and also comprises a restaurant and a bar, an external terrace area, four meeting rooms and on-site parking for approximately 90 vehicles.
