New Owner for Landmark Harrogate Hotel
A landmark Harrogate hotel which dates back to the early 1900s and is set within eight acres of private gardens has been acquired by a rapidly expanding leisure group.
The Majestic Hotel is a four-star, 170-bedroom establishment, which also incorporates a health club, restaurant, two bars and 15 conference rooms catering for up to 500 delegates.
Newcastle-based hotel and bar operator Cairn Group has now acquired the hotel alongside four properties in County Durham, Stirling, Cardiff and Brighton, adding 665 rooms to its now 3,000 room portfolio. The hotels had a combined list price of £75m.
Cairn Group finance director Richard Warren said: "This is an incredibly exciting move for us. We are continuing to break into new territories and penetrate new customer bases.
"Each of the hotels are completely unique and operating successfully. We see huge potential for them within the Cairn Group portfolio as we expand our coverage into new areas, offering a truly ‘national’ choice for our customers who remain our number one priority, alongside ensuring we provide first class hospitality, each and every time."
Mincoffs Solicitors and HSBC Bank supported Cairn Group on the acquisition.
Julia Fox of Deloitte led tax advice for the purchaser, while Savills and Rothschildjointly advised on the sale of the hotels.