Principal Hotel Company

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

Principal Hotel Company
Private
IndustryHospitality
Founded2006[1]
HeadquartersHarrogate, North Yorkshire, UK
Area served
United Kingdom
France
Key people
Tony Troy, Chief Executive Officer
RevenueGB£160.9 million (2013)[2]
ParentIntercontinental Hotels Group
Websitephcompany.com

History

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 difficulty. In February 2013, the bank sold the group to the American investment company Starwood Capital Group for GB£360 million.[3]

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 of luxury city hotels) and De Vere (a group of country estate hotels).[5] In May 2017, the group created the role of Group Nutrionist and named Wendy Martinson for the position,[6] and launched its new loyalty programme Applause Rewards.[7] In September 2017, after a brand overhaul, De Vere relaunched with 22 locations[8][9] and announced the sale of 20 non-core hotels.[10]

In December 2017, the Wychwood Park hotel was sold to Mokan Hotels Company for £8 million.[11] In May 2018, IHG announced that 10 Principal Hotels in the UK (including the George Hotel in Edinburgh) would be rebranded as its leading luxury boutique brand, Kimpton Hotels & Restaurants, following a conditional agreement to operate the hotels on behalf of Fonciere des Regions (“FdR”).[12][13]

Locations

The company operates 50 locations, mainly in the UK.

LocationName
LondonKimpton Fitzroy London Hotel
EdinburghKimpton Charlotte Square Hotel
InterContinental Edinburgh The George
GlasgowKimpton Blythswood Square Hotel
Grand Central Hotel
ManchesterThe Principal Manchester
YorkThe Principal York
Cardiffvoco St David's Cardiff Hotel
Sandford-on-Thamesvoco Oxford Thames
Oxfordvoco Oxford Spires
DorkingWotton House
LeedsThe Met Hotel

Governance
  • CEO : Tony Troy[14]

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. "Principal Hotel Company appoints Wendy Martinson OBE as Group Nutritionist". Hospitalityandcateringnews.com. 10 May 2017. Retrieved 14 January 2020.
  7. Mark Caswell (4 May 2017). "Principal Hotel Company launches Applause Rewards". Businesstraveller.com. Retrieved 14 January 2020.
  8. Molly Dyson (14 September 2017). "De Vere unveils brand transformation". Buyingbusinesstravel.com. Retrieved 14 January 2020.
  9. "De Vere unveils brand transformation following £100+ million portfolio investment". Hospitalityandcateringnews.com. 15 September 2017. Retrieved 14 January 2020.
  10. Janet Harmer (27 September 2017). "Principal Hotel Company to make £200m from 20 hotel disposals". Thecaterer.com. Retrieved 14 January 2020.
  11. Katie Pathiaki (20 December 2017). "Wychwood Park hotel sold for £8m". Thecaterer.com. Retrieved 14 January 2020.
  12. "IHG adds 13 luxury and upscale hotels in the UK". 2018-07-04.
  13. Mark Caswell (3 August 2019). "Intercontinental brand returns to Edinburgh". Businesstraveller.com. Retrieved 14 January 2020.
  14. "Top 100: Tony Troy, Principal Hotel Company". Thecaterer.com. 19 April 2018. Retrieved 14 January 2020.
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