Fattal acquires four Grange Hotels leases
19/03/2019
Fattal acquires four Grange Hotels leases
The Fattal Hotel Group has announced that it has acquired the long-term lease on four Grange Hotels properties in London, marking the company’s entry into the capital.
The deal includes 1,300 guest rooms at the Grange Tower Bridge, Grange St Paul’s, Grange City and the Grange Holborn.
The group has acquired the lease-holds from London-based Queensgate Investments.
Fattal says that following a “significant” investment, the properties will undergo major refurbishments as the group “continues to pursue a strategy to drive superior performance and growth”.
The new hotels will be operated by Jurys Inn & Leonardo Hotels UK and Ireland, with the Tower Bridge St Paul’s and City properties to be rebranded to the Leonardo Royal portfolio. Meanwhile, the Holborn hotel will become Fattal’s first Nyx Hotel by Leonardo Hotels property in the UK.
The acquisition will bring the total number of current and pipeline hotels in the Jurys Inn & Leonardo Hotels UK and Ireland Group portfolio to 53 following the purchase of a site on Adair Street in Manchester, the city’s Midland Hotel and the Grand Harbour Hotel in Southampton, which has now reopened as the Leonardo Royal Hotel Southampton Grand Harbour.
Fattal Hotel Group also plans to invest £32 million in the redevelopment and expansion of the existing Jurys Inn Edinburgh and its neighbouring site, which will be converted into a 131-room Nyx property.
Jason Carruthers, MD of Jurys Inn & Leonardo Hotels UK and Ireland, commented: “We are delighted to add these prominent hotels to our portfolio, which are in excellent locations within the very heart of London, as we continue to increase our offering in the UK following a year of significant growth.
“As we start 2019, we believe our portfolio, our strategy and the proven capabilities of our people puts Jurys Inn & Leonardo Hotels UK and Ireland in a unique position to leverage and capitalise on the emerging opportunities in the UK hotel sector and to help create exceptional customer experiences.”
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