De Vere pressured to sell hotels

Leisure group De Vere was under renewed pressure after a major investor stepped up its campaign for the company to sell its British hotels.

GPG Holdings, which already owns 10% of shares, said it was making a £118 million offer for a further 25% of the Belfry golf complex owner.

The move would see two GPG directors pressing for a place on the De Vere board to try and force the sale of its hotels division, which includes Brighton’s famous Grand Hotel.