West Midlands-based Talash Hotels Group has acquired the Mercure Goldthorn hotel in Wolverhampton for an undisclosed sum from Aviva Investors.
The 74-bedroom hotel is the sixth property to be added to the group's portfolio in the last 13 months, and the third Talash Hotels deal to be backed by Allied Irish Bank (GB).
Talash Hotels, founded by brothers Sanjay and Ravi Kathuria, has a portfolio of 13 West Midlands properties including Stoke Rochford Hall near Grantham in Lincolnshire, Barons Court hotel in Walsall, and the Allesley hotel in Coventry. Talash aims to have a collection of 20 hotels by 2020.
Sanjay Kathuria said: "We're planning to open up a further 10 bedrooms within the Mercure Goldthorn hotel, invest in the leisure facilities, restaurant and function rooms and build on local relationships to enable us to achieve that goal." They also plan to retain the hotel's Mercure branding.
Mark Duggan, senior relationship manager at Allied Irish Bank (GB) in Birmingham, said: "Sanjay and Ravi are ambitious entrepreneurs with a very clearly defined strategy of buying strategically-located properties with potential for development."
Photo (from left to right): Mark Duggan, senior relationship manager at AIB (GB) in Birmingham; Ravi and Sanjay Kathuria, Talash Hotels Group; Morgan Keating, AIB (GB) Birmingham.
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