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

Marston Hotels bought back from shareholders

25 November 2005

English four-star hotel group Marston Hotels has been taken in-house by its major shareholders.

John Marston, his immediate family and the hotel group's management, who between them owned 55% of the company's shares, have secured a deal with Barclays Bank which has allowed them to buy back the remaining 45% of shares. The £30m refinancing and share buy-back package means the Marston family and the hotel management are now sole owners of the 12-strong hotel group.

Marston's managing director Chris Scragg said: "Some shareholders wanted to sell the company, and rather than everyone get off the train, we let them off and we're carrying on."

He said the company would continue to be run in the same way. "Under the terms of the deal we have £17m for specific refurbishment and expansion schemes. We'll deal with other opportunities as and when they come along," he added.

"We already have a new hotel opening in Nottingham in January next year and are looking into other opportunities in the South-east and the M4 corridor."

Get your copy of Caterer and Hotelkeeper every week - click here to subscribe and save 25%.

Sudoku Join the craze and play Sudoku online!
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 Group 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