Village Hotels, the hotel and leisure club operator, has taken another significant step by acquiring the former Crowne Plaza site at Caversham Bridge, Reading. This purchase marks the company’s first foray in Reading, as it aims to bring its unique amenities to the area.
The property was acquired from Brightbay Real Estate Partners, which is affiliated with Starwood Capital Group. Following this acquisition, Village Hotels plans to execute expansive renovations and upgrades at the site, with the aim of aligning it fully with their brand identity. The investment for these upgrades is set to reach multimillion-pound figures, signifying the company's commitment to enhancing its offerings.
This acquisition is part of Village Hotels' wider investment program initiated back in September, which targets upgrading more than 50 percent of the company's existing portfolio. This ambitious plan encompasses bedroom extensions, refurbishments to current facilities, and improved leisure and fitness options across its 33 existing UK properties. Such enhancements also include the installation of ultra-rapid electric vehicle charging points at all locations, catering to the increasing demand for sustainable transportation options.
Gary Davis, CEO of Village Hotels, expressed his enthusiasm about the new acquisition, stating, “We are delighted to take ownership of our new site in Reading. Building on our successful conversion in Bracknell, the acquisition is another example of significant investment in the area and creates an opportunity to bring our unique and differentiated proposition to guests and local audiences alike.”
The former Crowne Plaza site is set to embody the full Village experience, which features stylish bedrooms, Pub & Grill dining, versatile meetings and events space, Starbucks coffee outlets, and comprehensive health and wellness facilities—all under one roof. The transformation of this property is expected to significantly boost the local economy and promote tourism, emphasizing Village's mission to create spaces where leisure and business can thrive together.
According to numerous reports, Village Hotels are known for combining quality accommodation with leisure club facilities, making them increasingly popular among consumers seeking convenience during their stays. This acquisition and subsequent renovations signal Village Hotels’ intent to solidify its brand presence and cater to the needs of diverse customers.
While the official reopening date of the Reading site has yet to be announced, the excitement surrounding the potential transformation is palpable. This strategic investment not only enhances Village's portfolio but also reflects the growing trend of integrating leisure, dining, and workspace, which could reshape hospitality experiences moving forward.
Stay tuned for more updates as Village Hotels continues its mission to redefine leisure and accommodation experiences across the UK!