Patron Capital, the pan-European institutional investor focused on property-backed investments, has sold Luxury Family Hotels to the management team and its backers.
The acquisition, for an undisclosed sum, includes the Luxury Family Hotels brand and five of its hotels (Woolley Grange, The Ickworth, New Park Manor, Moonfleet Manor and Fowey Hall). Patron Capital retains 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.
Nigel Chapman, CEO of Luxury Family Hotels, who remains actively involved in the business and will continue to play a proactive role in its future development in conjunction with the Directors, 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.”
