De Vere Group is selling its venues portfolio.
The company has tasked Lazard Asset Management with the process, which comes after ‘a number of unsolicited approaches from interested parties’.
A focused B2B business, De Vere Group has 30 venues and 3,000 bedrooms accommodating 700,000 conference/meeting delegates per annum.
It has invested some £112m in the properties over the last seven years and the portfolio was recently valued at £280m.
De Vere stressed that it is not under any pressure to undertake a disposal and will only conclude a transaction which is in the best interests of all stakeholders.