Cairn Group buys five Hotel Collection properties
The company has bought Durham’s Redworth Hall, The Old Ship in Brighton, The Angel Hotel in Cardiff, The Majestic Hotel in Harrogate and The Stirling Highland Hotel.
It is the latest step in the sale of the 21-strong Hotel Collection, previously known as Puma Hotels, by its owners Lone Star.
The deal significantly expands the Newcastle-based Cairn Group’s reach across the UK, adding 665 rooms and growing its staff to 3,000.
It comes after the company refinanced £101m in May with plans to expand its portfolio of over 60 hotels, bars and restaurants.
Cairn Group finance director Richard Warren said: “This is an incredibly exciting move for us. We are continuing to break into new territories and penetrate new customer bases.
“Each of the hotels are completely unique and operating successfully. We see huge potential for them within the Cairn Group portfolio as we expand our coverage into new areas.”
Savills and Rothschild jointly advised on the sale of the hotels.
Martin Rogers, head of UK hotel transactions at Savills, said: “The unique character of each hotel and their unrivalled locations ensure they are profitable business, attracting visitors all year round.”
