Peel Hotels owns and operates nine four-star hotels. It was set up in 1997 by Robert Peel, the son of a restaurateur, shortly after he quit his role as chief executive of Thistle Hotels.
Peel was renowned for turning the ailing Mount Charlotte h
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Website:http://www.peelhotels.co.uk (Opens in New Window)
- June 2012 Peel Hotels reports its toughest trading period in its history as the harsh economic climate slashes profits by 54% and the company says it cannot pay a dividend to shareholders.
- May 2009 The group exchanges contracts to buy the 95-bedroom, four-star Norfolk Royale hotel in Bouremouth from English Rose Hotels in a £8.25m deal that completes in June. The Golden Lion hotel in Leeds is renamed the Cosmopolitan hotel in the midst of a refurbishment programme that will ultimately cost in excess of £1m.
- February 2009 The company wins planning permission to develop a 210-bedroom hotel at the Trafford Centre in Manchester. Facilities will include a penthouse suite, 500-seat banqueting/conference room, 200-seat restaurant, spa, gym and swimming pool
- September 2007 Peel Hotels exchanges contracts to buy the head lease and two small freeholds on the Bull hotel in Peterborough for £2.35m. It also agrees to lease the basement of the Midland hotel in Bradford for 25 years to Clermont Leisure, which will create a casino there.
- August 2007 The group announces the sale of the Avon Gorge hotel and staff house in Bristol for £15.5m (to Swire) and of freehold land with planning permission in Bradford for £2m.
- May 2005 Peel Hotels buys the three remaining leasehold properties it manages for Grace Hotels for £2.75m (boosting its estate by one third) along with the freehold on the Golden Lion. To fund the acquisition of the Crown & Mitre, the Strathdon and the King Malcolm, the group places £600,000-worth of shares at 90p apiece and secures a £2.5m loan repayable over 10 years.
- October 2004 Peel Hotels reveals it has been refused planning permission to build 24 new bedrooms and a leisure complex at the Caledonian hotel.
2004 Grace Hotels puts its final four hotels up for auction in July, and sells its Merrion hotel in Leeds.
- October 2003 The number of Grace Hotels managed by Peel has now dropped to five properties.
April 2003 Peel reveals that its income from Grace Hotels comes to an end in 2004. The group now owns six hotels and manages seven.
- January 2003 Middlesex-based Shepperton Hotels acquires its third UK property - Grace's Ship hotel in Weybridge, Surrey - for close to the £5.5m asking price.
- August 2002 Glasgow-based property developer submits plans to convert the 50-bedroom Barnton hotel in Edinburgh, which is owned by Grace Hotels, into luxury flats.
- June 2002 Hotel du Vin agrees to buy the Harrogate Spa hotel (a Grace Hotels property managed by Peel) for £2.4m.
- June 2002 Peel Hotels buys two more properties – the Avon Gorge in Bristol and the George in Wallingford, Oxford – after raising £3m in November 2001 through a share issue.
- November 2001 Peel Hotels extends by six months its management contract with Grace Hotels, which expired in October. Peel now operates 18 Grace-owned hotels.
- 1999 In September, the group buys the Golden Lion in Leeds and the Caledonian in Newcastle-upon-Tyne for £8.75 from Grace Hotels. It reveals plans to raise £39m through a share issue and borrows £7m from the Royal Bank of Scotland.
- December 1998 Peel Hotels signs an agreement to buy the Pennington Midland hotel in Bradford for £4.25m in a reverse takeover.
- October 1998 Sixteen Thistle staff defect to Peel Hotels, including key directors Norbert Petersen and John Perkins.
- September 1998 Peel Hotels floats on the Alternative Investment Market. It also wins the management contract for 29 smaller, provincial, three-star Thistle Hotels bought by Grace Hotels, a subsidiary of investment bank Lehmann Brothers, for £62.7m. They are gradually sold off, with most of them changing hands after 2000.
- August 1998 Speculation grows that Peel may bid for more than 30 Thistle hotels after Thistle terminates talks with a potential bidder.
- March 1998 Peel Hotels starts trading after buying the Bull hotel in Peterborough for £3.8m. The group applies to float on the Alternative Investment Market to raise £400,000 to fund the acquisition and provide working capital.
- 1997 Robert Peel quits his role as chief executive of Thistle Hotels after it fails to meet profit forecasts following its £1b-plus flotation in 1996. In November, he creates his new company, Peel Hotels.
Chief operating officer Norbert Petersen
Financial controller Nick Parrish
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Number of hotels nine
Bull hotel, Peterborough
Caledonian hotel, Newcastle
Cosmopolitan Hotel, Leeds
Crown and Mitre hotel, Carlisle
George hotel, Wallingford, Oxford
King Malcolm hotel, Dunfermline
Midland hotel, Bradford
Norfolk Royale Hotel, Bournemouth
Strathdon hotel, Nottingham
Full year (ending 5 February 2012)
Turnover £14.6m (2011: £15.3)
Ebitda £1.6m (2011: £2.3m)
Pre-tax profit -£227,802 (2011: +£555,329)
Half year (ending 19 August 2012)
Turnover £8.2m (2011: £7.8m)
Operating profit £422,230 (2011: £383,172)
Pre-tax profit £45,049 (2011: £32,998)
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