Top North East leisure operator, Cairn Group, has announced the acquisition of five hotels, snapped up for a price of £75m, in a bid to expand its footprint across the UK and further down the south of the country.
The Newcastle-based hotel operator has purchased properties in County Durham, Stirling, Harrogate, Cardiff and Brighton, adding 665 bedrooms to its now 3,000 room portfolio.
It is thought to be the biggest hotel acquisition by a North East company this year and marks the group’s third of 2016, following a £101m refinance deal completed in May.
The five hotels are: Durham’s Redworth Hall Hotel, The Old Ship Hotel in Brighton, The Angel Hotel in Cardiff, The Majestic Hotel in Harrogate, and The Stirling Highland Hotel.
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, offering a truly ‘national’ choice for our customers who remain our number one priority, alongside ensuring we provide first class hospitality, each and every time.”