Property investment company Patron Capital has sold Luxury Family Hotels to the management team and its backers for an undisclosed sum.
Nigel Chapman, chief executive of Luxury Family Hotels, confirmed to The Caterer that the group now plans to expand its current set. "We've done some good work with Patron Capital over the last five years. Our plans now are to considerably expand and develop the hotels," said Chapman.
The group already has planning consent to more than double the size of the 24-bedroom New Park Manor. "That kind of expansion is what we're looking for with the rest of the hotels over the next three years," said Chapman.
Patron Capital still owns Thornbury Castle hotel in Bristol, and Polurrian Bay will remain part of the Luxury Family Hotels brand but is independently owned by a number of investors, the majority shareholder of which is Halcyon Hotels and Resorts.
Chapman explained the group does not intend to buy Thornbury Castle as it has never been as family-friendly as the other hotels. "We felt that five hotels was enough to offer the market," he added.
As for further acquisitions, Chapman said that, while the group will primarily be focusing on making its five hotels bigger and better, it was not off the cards completely.
Videos from The Caterer archives