KPMG, administrators for UK private property firm Osborn Securities (Hotels), has picked CBRE Hotels to market a portfolio of three purpose-built hotels all branded Hampton by Hilton, Hilton's premier budget offering. The broker did not disclose an indicative price.

The trio of hotels, comprising a total of 241 bedrooms, are all operated under long-term management agreements with Hilton. The hotels are located in Braintree, Shrewsbury and Birmingham and are amongst the first Hampton by Hilton hotels in the UK, having only recently been branded in early 2010.

Hampton by Hilton is a premier budget offering which first entered the UK market in 2008. There are currently eight Hampton by Hilton hotels across the UK with a further 12 expected to open in the next 12 to 18 months. Hilton has aggressive expansion plans for the Hampton by Hilton brand, which is currently its largest brand by number of hotels across their international portfolio.

'The weak appetite within the debt markets means the challenges and costs involved in order to develop a product of this specification would be higher than the guide price on these hotels,' said Daniel Woodcock of CBRE Hotels. 'This coupled with Hilton's substantial growth plans for the Hampton by Hilton brand create the ideal opportunity for an investor to buy at the perfect time in the property cycle and enjoy excellent returns going forward.'