Wed, 30 Nov 2011 | BUSINESS SALE
Jasminder Singh's Edwardian Group has made its second major hotel acquisition in one month with the purchase of the New Providence Wharf hotel in Canary Wharf, London.
The purchase of the 169-bedroom, four-star hotel takes the privately owned hotel group's tally to 14.
The £37.5 million purchase comes just four weeks after its acquisition of the Grade II-listed Radisson Edwardian Free Trade Hall in Manchester. The group is believed to have paid more than the £37.5 million asking price for the 263-bedroom, five-star luxury hotel Free Trade Hall.
Both of the hotels have been operated under the Radisson Edwardian brand for at least four years.
Paul Mansi, Edwardian Group chief operating officer, told Caterer Search,“It also brings the hotel under our full control, which will allow us to broaden the scope of the hotel's offering in due course.
“The group is well positioned to make further purchases when interesting opportunities present themselves,” Mr Mansi added.
The New Providence Wharf hotel, which lies on the banks of the Thames, is ideally located close to the O2 Arena and London City Airport.
The Edwardian Group also operates a management contract at the Radisson Edwardian Guildford, which has just opened.
An established steel fabrication business in the East Midlands offers an attractive opportunity for those looking to enter or expand in the industry.
The business is well-established and offers its products and services across the region. The vendors now wish to retire, with the business representing an excellent acquisition for an existing operator within a similar sector or a new market entrant.
LEASEHOLD
This business provides comprehensive groundworks services to prestigious clients across the UK, offering a seamless turnkey solution.
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