St James's Hotel Group acquires fourteen UK hotels

By Carina Perkins

- Last updated on GMT

Related tags: Hampshire

St James's Hotels has bought fourteen UK hotels out of administration (stock image)
St James's Hotels has bought fourteen UK hotels out of administration (stock image)
A portfolio of fourteen three-star hotels owned by the beleaguered Forestdale Hotel Group has been sold to St James’s Hotels Group for an undisclosed sum.

St James’s Hotels managing director Shaun Robinson said the hotels had suffered from a ‘prolonged period’ of under-investment due to Forestdale’s ‘large debt burden’, which recently sent it into administration.

However, he added that the hotels were in ‘strongly performing’ locations including Bath, Cambridge, Bristol, and Winchester, the New Forest and the Cotswolds.

“We are very excited to have acquired this portfolio and while it will require significant investment in both time and money, we believe we are well placed to maximise the potential of these well located properties,” he explained.

Robinson said the purchase was the first of a series of planned acquisitions for St James’s Hotels, which was formed recently by the privately-owned European investor Somerston Group.

Related topics: Business, Hotels

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