London-based investor Patron Capital has sold five regional family-oriented hotels in the UK and the Luxury Family Hotels brand to the management team and its backers for an undisclosed amount.
The assets - Woolley Grange, The Ickworth, New Park Manor, Moonfleet Manor and Fowey Hall – were originally bought by Patron at end 2011 out of administration from the Von Essen Hotel Group.
The original portfolio acquired by Patron included seven assets offering a total 211 rooms predominantly in the South of England. Patron Capital is retaining the iconic 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.
Polurrian Bay Hotel, owned under a separate entity, will continue to trade under the Luxury Family Hotels brand for the foreseeable future.
'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,' said Camil Yazbeck, partner & Investment director of Hospitality at Patron Capital.
Nigel Chapman, CEO of Luxury Family Hotels, will remain actively involved in the business and will continue to play a role in its future development.
