Macdonald Hotels & Resorts takes over management of Swansea's Dragon hotel
Macdonald Hotels & Resorts has taken over the management of the recently refurbished Dragon hotel in Swansea city centre.
The 106-bedroom property, which is owned by London and Devonshire Trust, will join Macdonald's portfolio of 45 owned and managed hotels in the UK and Spain.
It will be the company's only presence in Wales, having previously exited the principality in 2006 when it sold the Macdonald Holland House hotel in Cardiff.
Refurbished as a cost of £3.5m, the hotel will not be branded as a Macdonald hotel, but will benefit from the cost synergies, distribution channels and sales and marketing support of the group.
The agreement with the Dragon hotel comes just weeks after Macdonald Hotels reported a profit after tax of £1.9m for the year ending 29 March 2012, with a like-for-like increase of group turnover up by 2% to £139.5m and operating profit before interest rising by 3% to £13.7m. The company is currently negotiating with Lloyds Bank, which holds a 50% stake in the group, to refinance its £314m debt.
The Dragon hotel, which has a 230-capacity banqueting suite, a 18m swimming pool and the one-AA-rosette Dragon Brasserie, was named Best Hotel in Swansea at the 2010 Swansea Life Awards.
Macdonald Hotels in talks to refinance £314m debt facility >>Accor and Hilton battle for 24 former Macdonald contracts >>By Janet Harmer
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