Acquisition movement prompts reshuffle in London hotel market

Fri, 24 Apr 2015 | BUSINESS SALE

The future of the upmarket London hotel sector looks set for a bit of a rethink after the Barclay brothers, who own the Telegraph, confirmed that they have sold their stake in Coroin.

Sir Frederick and Sir David Barclay bought a 64 per cent interest in Coroin, which owns some of the most prestigious hotels in the city, back in 2011.

Reports in the Guardian indicate that the pair have now decided that the time is right to abandon their plan to extend their control of the sector and have sold their stake to Qatar's Constellation Hotels for an undisclosed sum.

Richard Faver, a senior executive in the Barclays business empire and the former son-in-law of Sir Frederick, told the paper: “We are pleased to have concluded this transaction and that [the hotels are] now majority controlled by Constellation Hotels Group.”

The Coroin group includes top five-star hotels, Claridges, the Berkeley and the Connaught.

The sale of the stake in the business has been of particular interest to the industry given the aggression with which the brothers had pursued the group back in 2011. A number of lawsuits took place around the world challenging what was seen as a 'raid' on Coroin by the brothers and questioning its legality.

Eventually it was agreed that the Barclay brothers had not breached any agreement but other aspects of the deal continued to be questioned, such as the pair's relationship with some of the shareholders.


View the latest hotels for sale and other leisure businesses on the market.


Share this article



Latest Businesses for Sale

Private Hire Taxi Company
North of England, UK Wide

Specialises in providing fast, reliable and trustworthy private hire transport services using a modern and maintained fleet for the public, commercial and corporate sectors. Service offering is enhanced through an industry-leading smartphone applicat...

Asking Price: Offers Invited
Turnover: £5,600,000

LEASEHOLD


Home Care Franchise
Mansfield, Nottinghamshire, East Midlands, UK

The franchisor offers a white-collar management franchise focusing in the dynamic multi billion pound care and support market. The role of a franchisee is one of working “on” the business, as opposed to working “in” the business – managing people, st...

Asking Price: £250,000
Turnover: £1,200,000

LEASEHOLD


Security Services Business
London, Buckinghamshire, South East, UK

Established business acquired as going concern in 2013 with excellent reputation for quality, service and reliability. An opportunity exists to purchase the business and assets of well-established security business. Long track record of profitability...

Asking Price: Offers Invited
Turnover: £1,900,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources