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The Belfry Golf Club,Wishaw, Warwickshire
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The Belfy sold to Quinn Group

Sean Quinn, the Irish cement tycoon who was recently outbid for the Wentworth golf club, is to become the new owner of the Belfry, the venue that has played host to the Ryder Cup four times.

His Quinn Group conglomerate, with business interests ranging from glass production to motor insurance, has agreed to buy the prestigious hotel and golf club property from De Vere for £186m - a 47% premium to the venue's book value.

The proceeds will be returned to De Vere shareholders and the provincial hotel operator will continue to run the Warwickshire site under a 25-year management contract. The Belfry is believed to be one of Britain's most profitable hotels outside London and has dominated the De Vere estate.

Last year it made operating profits of £12.2m on turnover of £33.9m.

 

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