Surinder Arora (left), founder of the Arora Group, has stepped down from the company as chief executive to focus on the development of a new terminal at Heathrow Airport.
Steve Pateman (right), currently chief executive of the privately-owned Hedge Bank and an advisor to the Arora Group board, will step into Arora's shoes as CEO.
The Arora Group of companies incorporates Arora Hotels which owns and operates a portfolio of 12 hotels, including a mix of independent and franchised properties such as the InterContinental London ‒ The O2, the Sofitel London Heathrow and Fairmont Windsor Park, which is due to open at the end of the year after under-going a multi-million pound transformation from the Savill Court Hotel & Spa.
Arora, who has stepped into the new role of founder and chairman of the group, will now concentrate on the proposed plans for the Heathrow West terminal building, as a rival to a project spearheaded by Heathrow Airport Limited.
He said the terminal proposal had "the potential to be the UK's most exciting new infrastructure and development project.
"Steve brings a unique knowledge of both our organisation and the world of banking and I am confident that these skills will supercharge our growth over the coming years. He is the perfect captain to lead The Arora Group to the next stage of its ambitious growth plans."
Pateman added: "It is a tremendous privilege to have been asked to lead the Arora Group business and I am excited by the opportunities that lie ahead to build on the incredible foundations that have been built over the last 20 years. I have known Surinder for many years and look forward to working with him and his team."