Scottish group, Crerar Hotels has signed a deal to manage and operate 13 properties formerly leased by London and Edinburgh Swallow Group.
Property owner REIT Asset Management agreed the partnership deal with Crerar after dismissing the option of re-letting the properties.
Paddy Crerar, chief executive of Crerar Hotels, said: "These hotels are in prime locations, they have been well maintained, they have competent hotel teams and general managers, and most importantly they are profitable with a clear opportunity to make substantial improvement."
He added the company would now focus on sales generation, financial control and allowing the staff to deliver the product.
The hotels are the Dundee hotel in Invergowrie; the Glasgow hotel in Paisley Road West; the Hilltop hotel in Carlisle; the George hotel in Chollerford, Northumberland; the Three Tuns hotel in Durham City, the St George hotel in Harrogate, the Belstead Brook hotel in Ipswich; the Imperial hotel in Newcastle upon Tyne; the Gateshead hotel in Gateshead; the Churchgate hotel in Essex; Preston hotel in Samlesbury; the Eden Arms hotel in Rushyford, County Durham and the Stockton hotel in Stockton-on-Tees, Cleveland.
Property agent CB Richard Ellis secured the deal.
By Emily Manson
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