Advised on the acquisition of three Swallow Hotels
July 11, 2008
Coffer Corporate Leisure has advised Moorfield on the acquisition of three Swallow Hotels. Following the company’s collapse in September 2006, the original 13 Swallow-branded hotels came to the market discreetly in August 2007. Linking up with experienced hotel portfolio investor Moorfield, Barber set about evaluating all acquisition and re-branding opportunities.
Following detailed due diligence and appraisal, Moorfield selected three assets to buy out of the portfolio: the St. George Hotel in Harrogate (90 bedrooms), the Eden Arms in Rushyford, County Durham (45) and The George Hotel near Hexham, Northumberland (47), in July 2008. Barber said: “The three hotels are all historic, destination businesses, in attractive locations. The George for example enjoys a riverside position close to Hadrians Wall; they are therefore an excellent fit for branding within Moorfield’s Shearings Holidays portfolio, in which they will also enjoy planned investment programmes.<"/p>