Akkeron Hotels Group acquires Butterfly Hotels

Akkeron Hotels Group has acquired 10 hotels from
Butterfly Hotels and Crowne Hotels.

The hotels, which were acquired from administrators John
Kelly and Nigel of Bebies Traynor, trading under Best Western, Ramada and
Holiday Inn Express   brands, include a
mix of leasehold, freehold and operating management
agreements.

The transaction will increase the number of hotels in
the Akkeron Hotels Group to 36, employing 1,630 people and with a combined
annual turnover of £57m.

The acquisition will be funded with a combination of
existing resources and a new 15-year credit
facility.

Akkeron Group’s MD, Matthew Welbourn said: “The
Butterfly acquisition provides the initial phase of the third leg of our
midscale business, bringing to the Group a portfolio of hotels that trade under
international brands.

“Our strategy is to develop our third party branded
business, alongside our own four star ’light’ brand (Akkeron Hotels) and leisure
brand (Forestdale). Butterfly was an unfortunate victim of the recession, but I
am pleased that we were able to bring the hotels out of administration, thereby
safeguarding hundreds of jobs as well as the interests of other key
stakeholders. I am delighted to welcome our new colleagues to the Group and I
look forward to working with them,” he added.

Got a story for Conference News? Email: vcarley@mashmedia.net

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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