The Suffolk-based pub operator and brewer, which runs around 2,700 sites across the UK including some 100 hotels, is said to be marketing the properties with Savills.
The sites, located across the Midlands and south of England, currently sit within Greene King’s Venture Hotels Arm and are being advertised for individual sale.
Boasting a combined 420 rooms, the hotels for sale include Ye Olde Talbot in Worcester, the Cromwell in Banbury and the Bear Hotel in Havant.
Business strategy
Greene King said the move would enable the pubco to reinvest in its core estate priorities in line with its wider business strategy.
A spokesperson for Greene King told The Morning Advertiser (The MA): “We regularly review our estate as part of our typical annual business activity.
“As a result, we have identified a number of sites within our Venture Hotels business that are being marketed for individual sale, which would enable us to reinvest in our core estate priorities in line with our wider business strategy.”
In June last year, Greene King abandoned plans to sell the Venture Hotels division to RedCat, which was thought to have bid some £90m for the 39-strong portfolio.
Alternative models
Meanwhile, earlier this year, the company announced a new strategy for its pub estate, with around 300 of its managed sites to be either converted to an alternative model or evaluated for a potential sale.
Around half of the venues are set to be transformed into leased and tenanted or franchise pubs within Greene King’s Pub Partners estate, while the other half will be evaluated for potential sale over the medium-term.
These sites will be transferred to a new business unit, with a simplified model, while the transition takes place.
At the same time, Greene King identified a small number of sites for closure, around 2% of its managed estate, adding the funds would be reinvested into its core estate.
