Expanding hotel and restaurant group Pedersen has tripled its hotel portfolio following the purchase of four properties from Queens Moat Houses for more than £40m.
The 72-bedroom Moat House Winchester, in Hampshire, and the 95-bedroom Moat House Sheffield, South Yorkshire, will be renamed the Hotel Winchester and the Sheffield Park hotel. Meanwhile, the 114-bedroom Holiday Inn Reading, Berkshire, will continue to be run under a Holiday Inn franchise, and the 207-bedroom Holiday Inn Bristol has been leased to French hotel giant Accor and will become a Novotel.
Pedersen, which already owns the Regency Park hotel in Thatcham, Berkshire, and the St Mellons hotel and country club in Castleton, Cardiff, now plans to carry out a multi-million pound refurbishment of the four properties.
CB Richard Ellis Hotels was the agent.