Surya Hotels group has announced the multimillion pound acquisition of four hotels in the Dragonfly portfolio.
A total of five hotels under the Dragonfly umbrella went up for sale with Colliers International in July 2015 and the chain, which operates in key locations across East Anglia, has an estimated joint value of around £14m.
Now four of the five have been snapped up by Surya Hotels. The chain is part of the Flying Trade Group, which is also behind the authentic world food giant, Surya Foods.
All the five hotels are a 50-bed King’s Lynn hotel, a 50-bed Colchester hotel and a 71-bed hotel in Bury St Edmunds, as well as a 70-bed Peterborough hotel and a 76-bed hotel in Stevenage.
The acquisition takes the Surya Hotels’ portfolio up to 11 across the UK, with the Dragonfly properties joining the likes of Great Hallingbury Manor, near Stansted, The Kingscliff Hotel, Essex, The Duke’s Head in Norfolk and The Mill Hotel in Suffolk.
All four Dragonfly hotels are open for business as usual and will remain under the ‘Dragonfly’ brand, with significant investment planned across the group to bring the properties in line with Surya Hotel standards.
While Surya Hotels will now assume management, it will not result in any staff changes on the ground and the hotel’s staff will be transferred to Surya Hotels Ltd under a TUPE arrangement.
Suki Dulai, managing director of Surya Hotels Ltd said: "The Dragonfly portfolio is a great fit for our brand – which is all about delivering quality facilities at fantastic prices in the heart of stunning villages, towns and thriving local communities.
"We are delighted to have successfully acquired four wonderfully situated venues in East Anglia to add to our already impressive line-up in the area. All four hotels will undergo extensive refurbishment to bring them up to the standards of others within our group."
This is the second acquisition by the Surya Hotels group completed in 2015. In January it added The historic George Hotel in Colchester to its portfolio.