Edinburgh's Festival Group to buy three Jarvis hotels

17 June 2004
Edinburgh's Festival Group to buy three Jarvis hotels

An Edinburgh-based hotel, bar and restaurant operator is to buy three Jarvis hotels in Scotland for an undisclosed eight-figure sum.

The off-market deal, which completes in July, will net the Festival Group the 60-bedroom Jarvis Ellersly House and the 56-bedroom Jarvis Learmouth hotels in Edinburgh, along with the 98-bedroom Jarvis Aberdeen.

Managing director Kenny Waugh said it was the biggest single deal made since he set up the Festival Group in 1997 after selling his Thistle Inns chain to Scottish & Newcastle.

The acquisition is part of a drive to build up a 50-strong chain of hotels offering rooms for £40 to £50 a night.

The group currently runs nine hotels, 10 bars, four clubs and two restaurants, primarily in Edinburgh.

Finance director Richard Spanner said Festival would look at suitable properties anywhere in the UK, not just in Scotland.

by Angela Frewin

Buy this week's Caterer magazine for more industry news and analysis

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking