Hospitality operators Paul Smyth and Shaun Bailey have added Butlers guest house in Cheltenham to their portfolio of smart and contemporary hotels following a £1m deal.
The former gentleman’s residence, first built in 1837, was snapped up by Smyth and Bailey, who now hope to capitalise on Cheltenham’s high-end events calendar, which attracts visitors throughout the year.
Butlers guest house is located within a short distance to the town centre, the Promenade and the Montpelier district. The business has enjoyed strong trade under its current ownership, but now Smyth and Bailey will aim to build on this.
Paul Smyth said: “Cheltenham offers a catalogue of world-renowned events and while it’s not the cheapest area to operate it is definitely one of the most popular. And fluctuating currency levels mean foreign visitors get so much more for their money.
“The downturn encouraged many big companies to consider using the better class of guest house rather than expensive hotel accommodation – in our experience over the past 14 years we have seen tourist numbers falling back against a corresponding rise in business custom.”
Peter Brunt, hotels director with Colliers International, added: “Although it ticks all the boxes in terms of its outstanding aesthetic appeal, Butlers guest house also delivers in business terms, with accounts for the year ending October 2014 showing £150,580 without even using all the rooms – so there is enormous scope to develop the business further.
“The vendors bought Butlers in 2002 and should take credit for the stylish and tasteful décor that is much enjoyed by the clientele. In recent years they have operated less intensively than they could and throughout most of the year only offer 6 or 7 letting bedrooms. They now wish to retire, and the scope for Paul and Shaun to increase trade is obvious.”