Dawnay Day buys Lygon Arms owner Furlong Hotels

09 December 2005
Dawnay Day buys Lygon Arms owner Furlong Hotels

Dawnay Day Hotels, owner of the Paramount chain, has bought the company that owns the world-famous Lygon Arms hotel for £41m.

Its acquisition of Furlong Hotels (for £35m in cash and £5m in loan notes) also brings it Billesley Manor near Stratford upon Avon and Combe Grove Manor near Bath.

The group plans to plough £1.5m into refurbishing the three Furlong properties and will add extra bedrooms to the current tally of 182.

It also intends to create a new signature group within Paramount that brings together the top hotels within its four- and five-star line-up.

The Paramount Signature hotels will include the three Furlong properties along with Paramount's Imperial hotel in Torquay, The Marine in Troon, the Cheltenham Park hotel, Redworth Hall in County Durham, and Shrigley Hall in Cheshire.

Dawnay Shore Hotels was set up in 2004 to buy the 13-strong Paramount hotel company.

The Furlong acquisition follows the purchase of three Hanover hotels in January, followed by Walton Hall hotel in Warwickshire.

Dawnay Shaw Hotels director Howard Shore said the Furlong properties were "highly complementary" to the existing portfolio. ."We see great potential to enhance these properties, including adding extra rooms," said Shore.

He added: "We also believe that the acquisition can enhance the image and drawing power of some of our other premium properties by creating a signature group within the chain.

by Angela Frewin

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