Britannia Hotels acquire two further sites
The group, previously named the 'worst hotel chain in the UK' by a Which? consumer survey, has purchased the 122-room Grade II listed Palace Hotel Buxton, and the 100-room Basingstoke Country Hotel.
Alex Langsam, managing director of Britannia Hotels, said there were plans to redevelop the Buxton property in order to ‘restore it to its true former glory’.
Britannia Hotels is now the largest independently owned hotel group in the UK, with over 10,000 employees serving seven million guests annually across its hotel and Pontins holiday park portfolio.
Langsam said: “We are really delighted to have secured these hotels. I am proud of Britannia’s track record in sympathetically restoring heritage properties across the UK and providing hospitality to our guests."
Specialist hotel property advisors Christie + Co secured the sale, acting on behalf of The Hotel Collection.
Jeremy Jones, director and head of corporate hotels at Christie + Co, said the sites were ‘strong additions’ to Britannia Hotel’s growing portfolio.
“Both hotels have demonstrated tremendous all-year-round commercial and leisure business and offer excellent potential for further growth.
“These sites attracted significant interest from a variety of potential purchasers including investors and established multiple operators,” he said.
Consumer rating
Britannia Hotels has continued to expand despite a difficult few years for the group.
The company has been named the 'worst hotel chain in the UK' for the past two years running after ranking bottom of a Which? consumer survey, with a customer satisfaction rating of just 33 per cent.
It reported a 66 per cent drop in pre-tax profits to £1.4m in the year to the end March 2014. However, in the same period turnover rose to £73.3m, up from £69.8m the previous year.
Langsam said: "We have been able to grow our estate by trading very successfully during difficult times. Our highly experienced management team is aiming to make these two acquisitions equally successful.”
