NEWS
SALE OF CHARDON HOTELS SIGNALS END OF AN ERA FOR TAYLOR FAMILY
T
he Taylor family have sold their family-owned group Chardon Hotels to Atlas Hotels for an undisclosed amount. The sale brings to an end 50 years of hotel ownership for the company which was set up by Maurice Taylor and his wife in 1972 and which has been run by daughter Nicola for nearly 20 years. Nicola Taylor, CEO and owner of Chardon Group said of the move, “It is with a heavy heart that I took the decision to sell our hotels. This has been a difficult decision to make but it is the right decision for me and my family. “My parents started the company in February 1972 when they converted a leased office into a ten-ensuite bedroom bed and breakfast in the New Town of Edinburgh. Now, after 50 years, we will hang up our aprons.” She continued, “With the sale, we have ensured the company remains in the very best of hands. Atlas is fully committed to the hospitality sector. The Atlas family of hotels share our integrity and values so we have no doubt this, coupled with their experience and expertise, will result in a very bright future.” The purchase of Chardon Group, which
includes Holiday Inn Glasgow Theatreland, Holiday Inn Express Glasgow, Holiday Inn Express Edinburgh Royal Mile, Holiday Inn Express Edinburgh Aiport, Holiday Inn Express Dunfermline and Holiday Inn Express Perth sees the Atlas portfolio increase to 60 UK sites with over 7,400 bedrooms. Sean Lowe, CEO of Atlas Hotels commented, “Our decision to acquire the Chardon hotels reflects our ambitious growth strategy to become the leading multi-brand platform for Select Service hotels in the UK, and we are excited to welcome the teams into the wider Atlas family. “Despite the tough challenges of trading through the pandemic, our portfolio has remained cash positive, demonstrating the resilience of this sector. Our operating model has allowed us to quickly integrate new assets and provide a stable platform for recovery and growth. Supported by L+R Hotels we were able to provide an efficient exit route to Chardon’s successful owners.” Atlas Hotels, supported by its affiliate L+R Hotels, continues to grow with ten hotels having been acquired or opened in the last two years.
Since acquiring the 47-strong chain in 2016 Atlas Hotels has grown from strength to strength. Now centrally based at its new headquarters in Leicester, Atlas Hotels is the largest IHG franchisee in continental Europe. The scale of the platform allows for new assets to be acquired in a timely manner. Desmond Taljaard, Managing Director of L+R Hotels said,“ We have earmarked over £200 million to expand Atlas Hotels. We are actively seeking to add existing hotels, along with conversion and development opportunities.” Nicola Taylor concluded, “As a family, we have devoted most of our working lives to the hospitality industry. We have enjoyed great success, but my parents agree with my decision that it is now time for us to step back. “On a personal level, the success Chardon has enjoyed over the years is, in large part, down to the hard work and commitment which was continually shown by the team. Everyone played their part in making it a business to be proud of and we, as a family, thank them for that.”
NO 17 ON THE PROMENADE BACKED BY CUMBERLAND BS The Wellpark Hotel in Oban is now undergoing a complete renovation and will be reopened as ‘No. 17 on the Promenade’ following a six-figure investment by The Cumberland Building Society. The 23-room, ocean-facing boutique hotel is set to open in April having been bought by hotel, bar and restaurant owner, Paul Sloan, who purchased the site in 2021. Commenting on the investment, hotel owner Paul Sloan said, “I can’t reiterate enough how great my experience of working with The Cumberland team has been. There is always someone on hand to offer advice on the project, which hasn’t always been the case when working with other banks.
“They have allowed me to not only invest in this project but also look ahead to future investment opportunities, which wouldn’t be possible without their help. One year ago, I felt extremely unsure about my future in the hospitality industry – now I am set to open another luxury spot in Oban, one that guests will enjoy for years to come.” Scott McKerracher, Head of Commercial at The Cumberland added, “Despite the obvious challenges, it’s a really exciting time for the future of hospitality. We have seen a 600% increase in the pipeline in hospitality lending for hotels and holiday lets and look forward to supporting many of these opportunities, offering a fully relationship managed service to our clients.”
Valor Hospitality Partners is now managing the 4-star 240-bed Courtyard by Marriott Edinburgh hotel, which now gives it a foothold in the city. The company has significantly grown its portfolio in the last twelve months. IHG placed 17 hotels with the management company in 2021 and it strengthened its portfolio further, with the addition of two new luxury properties in development in St Andrews and Dunluce, Northern Ireland. Brian McCarthy, managing director of UK and Europe at Valor Hospitality, said, “We continue to grow here in the UK, with close to forty hotels now operating under our leadership and we are delighted to be given this opportunity to expand into Edinburgh. Euan McGlashan, global co-founder and CEO of Valor Hospitality, adds. “Hailing from Edinburgh personally, the city holds a special place in my heart. This in addition to our partnership with renowned chef Roy Brett and his Ondine Restaurant, means we are bringing our own very special brand of hospitality to this incredible city.” 4 • HOTELSCOTLAND
