Patron sells Luxury Family Hotels

By Kasmira Jefford - Monday, October 09, 2017 10:58

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Patron Capital has sold Luxury Family Hotels, a portfolio of hotels previously owned by the Von Essen Group, to the management team and its backers for an undisclosed sum.

The sale include the brand and five regional family-orientated hotels comprising Woolley Grange in the Cotswolds, The Ickworth in Suffolk, New Park Manor in the New Forest, Moonfleet Manor in Dorset, and Fowey Hall in Cornwall. 

Patron Capital will retain Thornbury Castle Hotel in Bristol, the only Tudor castle hotel in the country, which was once home to Henry VIII and his new bride Anne Boleyn in 1553. The Elms Hotel in Worcestershire was sold earlier this year to Gemini Group. 

In 2011, Patron and its joint venture partner Halcyon Hotels and Resorts bought seven Von Essen hotels out of administration after the collapse of the chain. Four of the assets were previously owned by Halcyon's chief executive Nigel Chapman before being sold to Von Essen in 2005.

Chapman, CEO of Luxury Family Hotels, will remain actively involved in the business and continue to play a proactive role in its future development in conjunction with the directors.

He said: “These are exciting times for Luxury Family Hotels and we are looking forward to further developing and enhancing our collection of individual family hotels for the next generation of families to enjoy. In the meantime, it is very much business as usual, with the five hotel teams preparing for a busy last quarter of 2017.”

Camil Yazbeck, partner & investment director of hospitality at Patron Capital, said: “At Patron, we believe in backing management teams and, having developed the Luxury Family Hotels brand, invested in the hotels and staff and improved the estate, we are pleased to sell this portfolio of five hotels. We would like to thank the teams for their work and commitment and we wish them every success for the future.”

kjefford@costar.co.uk

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