Lion hotel in Shrewsbury sold to Thai company

The 59-bedroom Lion hotel in Shrewsbury, Shropshire has been sold to a Thai-based conglomerate.

The Fico Corporation has acquired the 16th century, Grade-I-listed property for an undisclosed sum.

The Lion hotel was originally put up for sale in 2011 for £2.95m after previous owner Howard Astbury hit financial difficulties with debts of around £300,000 and Duff & Phelps was appointed trustees of the estate.

Located at the top of Wyle Cop, the hotel includes the domed Adam ballroom, Hayward restaurant and oak bar.

Krit Srichawla, chief executive of the Fico Corporation said the acquisition of the Lion will help the company strengthen its hospitality business as it looks to expand further into the Europe and the UK "beyond our home base".

The sale of the hotel was brokered by Chrisite + Co, with sister company Christie Finance arranging funding for the deal.