Leonardo Hotels snap up Portland Hotels
Berlin-based Leonardo Hotels has acquired the five-strong Portland Hotels portfolio in Scotland, for an undisclosed sum.
The acquisition of the mid-market hotels in Glasgow, Perth and Aberdeen has boosted Leonardo's presence in the UK to seven properties. The group already owns the 230-bedroom Leonardo Hotel London Heathrow Airport and the 282-bedroom Leonardo Royal Hotel Edinburgh.
Portland Hotels was owned by Etchecan, which reported a 13.1% fall in turnover to £13.9m and pre-tax profit of £1.3m (down 53.6%) to the year to 29 January 2017, according to the company's financial statement lodged at Companies House.
The newly acquired portfolio comprises 536 bedrooms and includes the 52-bedroom Edinburgh City hotel, the 111-bedroom Edinburgh Capital hotel, the 137-bedroom Glasgow Pond hotel, the 34-bedroom Huntingtower hotel in Perth and the 202-bedroom Speedbird Inn at Aberdeen Airport.
Daniel Roger, managing director of Leonardo Hotels Europe, said: "When we entered the market in the UK two years ago, we made it our goal to further expand our portfolio and strengthen the name recognition of the Leonardo Hotels brand. The purchase of Portland Hotels underscores this. I am convinced that our guests will love and appreciate this expansion of our offerings in key destinations across Scotland."
Leonardo Hotels is the European arm of Israeli company Fattal Hotels, which owns more than 80 hotels in over 40 locations. The company operates hotels under four brands: Leonardo Hotels, Leonardo Royal Hotels, Leonardo Boutique Hotels and NYX Hotels.
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