Holme Lacy pulls rank at ross-on-wye

Rank's Warner Holidays division has acquired its third hotel property, the Holme Lacy Hotel at Ross-on-Wye, Hereford & Worcester.

The 67-bedroom property will further develop Warner's focus on the short-break market for the over-40s.

Rank declined to say how much it paid for the 99-year lease. However, a total investment of £6.5m is planned, which will see the addition of 117 bedrooms and further leisure facilities. Opening of the hotel is scheduled for September 1995.

George Rushton, managing director of Warner, said: "We hope to add one hotel each year for the next three years, at an average cost of £6.5m each."

The first Warner outlet was the 103-bedroom Alvaston Hall at Chester in Cheshire, which was transferred from Rank Hotels in mid-April. Warner plans to add a further 31 bedrooms. It also operates the 174-bedroom Bodelwyddan Castle, near Prestatyn, Clwyd.

Mr Rushton said occupancy at these two hotels had been running at 90%. Warner's hotels are marketed as holiday packages of three, four or seven nights offering half board and entertainment at an average price of £35 a night.