Home to roost 25 October 2019 Simon Rogan returns to hotel restaurants with the global-influenced Henrock in the Lake District, where he “doesn’t need to show off any more”
In this week's issue... Home to roost Simon Rogan returns to hotel restaurants with the global-influenced Henrock in the Lake District, where he “doesn’t need to show off any more”
Read More
Search

Principal Hayley Group buys three Marriott hotels

12 October 2007 by
Principal Hayley Group buys three Marriott hotels

Principal Hayley Group, the Permira backed hotel and conference venues operator, today announced that it has splashed out £50m on three Marriott hotels.

The Sheffield Marriott Hotel, the Renaissance Derby Nottingham Hotel and the Renaissance Solihull Hotel form part of a package of five Marriotts put up for sale by investment firms Quinlan Private and Igal Ahouvi Group in May for £75m.

The sale will be completed on 30 November when the three hotels will be re-branded under the Principal Hayley name.

The acquisition increases the Principal Hayley portfolio to 20 properties and venues around the UK and Europe, offering a combined capacity of more than 3,400 bedrooms and nearly 450 meeting rooms.

Tony Troy, chief executive of Principal Hayley, said: "Strategically we have been looking to acquire prime properties in the midlands in order to further strengthen our objective of providing properties in all the key regions of the UK.

"These three hotels are already well established in their own right and will further enhance the Group's collection of four and five-star venues."

Graham Dodd, senior vice-president at Jones Lang LaSalle Hotels, which acted on behalf of Quinlan and Igal Ahouvi, said: "Despite the current uncertainty in the credit market, these hotels attracted strong interest."

Principal Hotels rebrands after Hayley Conference Centres buy >>

Principal Hotels sold for estimated £300m >>

Hayley opens seventh conference and training venue >>

Consortium set to complete £1b deal for 47 Marriott hotels >>

By Daniel Thomas

E-mail your comments to Daniel Thomas here.

The Caterer Blog Catch up with more news and gossip on the Caterer Blog here
Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

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

Sign Up and manage your preferences below

Thank you

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