St James’s Hotel group has announced that it has purchased The Legacy Falcon Hotel in Stratford-upon-Avon from administrators this month.
The four-star hotel is home to 83 bedrooms, 7 meeting rooms, 2 restaurants, 2 bars, with a frontage dating back to the late 15th century.
St James’s Hotels acquired the property from Noblelarge Limited, Grant Thornton and will now invest up to £6 million to completely refurbish the hotel, including the installation of air conditioning in all bedrooms during the course of next year.
The hotel was previously managed by Legacy Hotels, but the takeover will not affect any of the current staff who will all remain at the property.
Shaun Robinson, managing director of St James’s, commented: “We are very pleased to have been able to acquire The Falcon which is a part of Stratford’s heritage. It has suffered from a lack of capital investment over the past few years but, with a combination of some significant refurbishment, rebranding and committed management, we are confident of returning it to its former glory while providing up to date accommodation for our guests”.
St James’s was established by the Somerston Group earlier this year and acquired the Forestdale portfolio of fourteen unbranded, three star hotels in strongly performing locations across England, in March. It is currently investing in the extensive refurbishment of a number of the hoteIs in the portfolio and is in the process of selling a number of non-core hotels for alternative uses, particularly healthcare related.
St James’s has also recently acquired the 119 bed, Hilton Hotel in Portsmouth, in which it will be investing £4 million to convert it into a 150 bed ‘limited service’ hotel which will, on completion, will operate under the Holiday Inn express brand.