Principal Hotel Company

Principal Hotel Company
Private
Industry Hospitality
Founded 2006[1]
Headquarters Harrogate, North Yorkshire, UK
Area served
 United Kingdom
France
Key people
 Tony Troy, Chief Executive Officer
Revenue GB£160.9 million (2013)[2]
Parent Starwood Capital Group
Website phcompany.com

Principal Hotel Company is a British hotel and conference venue operator whose headquarters are in Harrogate in North Yorkshire.

The company was formed from a management buyout of a group of six hotels in 2006, backed by the private equity firm Permira. In 2010 the company was taken over by Lloyds following financial difficultly. In February 2013, the bank sold the group to the American investment company Starwood Capital Group for GB£360 million.[3]

The company presently operates 50 locations, mainly in the UK. In 2009, it expanded through the purchase of two venues from the collapsed group The Real Hotel Company[4] and opened two new venues in France and Spain.

In November 2016, Principal Hayley Group went through a major rebranding and re-investment project, the group became known as the Principal Hotel Company and split their portfolio between two groups of hotels; Principal (a group up luxury city hotels) and De Vere (a group of country estate hotels).[5]

In May 2018, IHG announced that 10 Principal Hotels in the UK would be rebranded as its leading luxury boutique brand, Kimpton Hotels & Restaurants, following a conditional agreement to acquire Foncière des Régions (“FdR”). [6]

Hotels and venues

United Kingdom

References

  1. ↑ "Principal Hayley". Business Week. Retrieved 2009-12-31.
  2. ↑ "PRINCIPAL HAYLEY SEALS £300M REFINANCE". Insider Media. 5 September 2014. Retrieved 10 January 2015.
  3. ↑ "Lloyds to sell off hotels in £360m deal". The Telegraph. 28 February 2013. Retrieved 10 January 2015.
  4. ↑ Leanne Bell (2009-06-25). "Principal Hayley rescues New Connaught Rooms from administration". citmagazine.com. Retrieved 2009-12-31.
  5. ↑ "How Starwood's new Principal brand will shake up city centres nationwide". thecaterer.com. 2016-11-01.
  6. ↑ "IHG adds 13 luxury and upscale hotels in the UK". 2018-07-04.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.