Jobs safeguarded as Newcastle hotel operator acquires Buckinghamshire site13/01/2016
The hotel and bar operators has completed the acquisition of the hotel which is located just outside of London, near Slough and already has plans in place to revitalise the 39-bedroom, 17th century property
The Group now owns and operates a portfolio of 26 hotels plus bars and restaurants across the UK from its headquarters in Newcastle upon Tyne.
Stoke Place is a modern day country house set in 10 hectares of grounds based in Stoke Poges, popular as both a business and leisure retreat.
Richard Warren, Cairn Group’s finance director said: “We take great pride in the venues and businesses within our portfolio and are thrilled to announce the addition of Stoke Place – a beautiful building in picturesque surroundings.
“We have developed a long-term financial plan which will involve making a significant further investment to revitalise the reception areas, bedrooms, dining, conferencing and wedding facilities.
“We’re excited to be able to honour the existing bookings, and engage with those guests. The vital improvements we intend to make to the hotel will ensure it meets and exceeds all expectations. Being part of the community is always our goal.
“This marks our first acquisition in 2016 and one of many new developments we have planned over the coming months at Cairn Group.”
The Cairn Group instructed Mincoffs’ Corporate team, led by Partner John Nicholson on this, their latest acquisition.
John said “We have acted for the Cairn Group for many years and are delighted to have assisted on this deal. The hotel itself is wonderful and is an exciting addition to their portfolio.”
Over the past five years, the Group has spent over £40m acquiring and improving assets and increased employee numbers in that period to over 2,100, establishing it as a leading player in the privately owned hotel owner and operator market.