THE resurgent UK economy and greater availability of debt has stimulated hotel activity in the North-East.

In the past month Christie + Co’s North-East team, led by director Mark Worley, has been involved in a string of exciting transactions with more deals in the pipeline due to complete shortly.

“We are witnessing an unprecedented demand for good-quality hotels with 10-plus bedrooms which have seen ongoing investment in the asset," said Mark. "In an increasingly digital age, good reviews on TripAdvisor are also considered very important by buyers.”

One of the company's recent hotel deals saw the Travelodge at Sedgefield, a 40-bedroom motel-style operation, sold as an investment with the benefit of a hotel management agreement. The property has been purchased by a small, but expanding, hotel investment group.

Other sales include The Croft Hotel near Darlington, a privately-owned 20-bedroom country hotel which was recently purchased by an entrepreneur with no past experience in the hotel trade, and the Twice Brewed Inn near Hexham, which sits high on the Northumberland hills adjacent to Hadrian’s Wall World Heritage Site and was sold to a local landowner for ongoing use after the sellers retired.

Christie + Co also recently sold the historic Percy Hotel at Otterburn to Duncan Fisher and his award-winning leisure company, Newton Hall Northumberland Ltd, which owns Newton Hall and the Joiners Arms at Newton-by-the-Sea. The landmark property will be transformed into a spectacular wedding venue and traditional village pub.

“Compared to the same time last year, we have completed on over 25 per cent more hotel transactions in Tyne and Wear, Northumberland, County Durham, Teesside and North Yorkshire,” said Mark.

“We have buyers and investors waiting for opportunities of all types and sizes to the market, whether it be smaller privately-owned hotels, medium-sized country halls and provincial hotels or large city blocks and motorway boxes.”