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Quintessential set to grow portfolio

18 November 2004
Quintessential set to grow portfolio

Quintessential Hotels has unveiled plans to grow to 10 hotels, an increase of seven in the next 12 months.

The company, set up in 2003 by the senior management team at hotel group Paramount, wants 15 properties in all.

It is also spending £28m refurbishing its existing properties at Chesford Grange hotel in Kenilworth, Warwickshire, the Queens in Leeds, and the Midland hotel in Manchester.

Michael Purtill, Quintessential's managing director and founder of Paramount, said he expected to grow the portfolio through the acquisition of one small group and a number of individual properties. The first deal should be completed in January. A couple of the properties will be in Scotland with the rest in England, he said.

The company is backed by venture capitalist Alchemy Partners, which sold its 87% stake in Paramount to Dawnay Shore Hotels in July.

Purtill has been joined by former Paramount board colleagues Ian Goulding as finance director and David Taylor as sales director.

Source: Caterer & Hotelkeeper magazine, 18 November 2004

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