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Akkeron Group Forms Akkeron HotelsDecember 2, 2009 By: Jena Tesse Fox
Akkeron Group has announced a new hotel group—called Akkeron Hotels—following the purchase of eight former Folio hotels.
The new group intends to build up a portfolio of up to 150 regional hotels across the UK.
The new group will own, lease and manage contracts on the various hotels, which include Makeney Hall, Derbyshire; The Yorkshire Hotel, Harrogate; The Caledonian Hotel, Oban; Cedars Health and Leisure Club, Richmond-upon-Thames; and the Harte & Garter Hotel & Spa in Windsor.
“The regional UK hotel market provides a real opportunity for a company such as ours which combines access to equity and debt finance, and management expertise and integrity," said James Brent, chairman of Akkeron. “Akkeron Hotels has been set up to capitalize on current market conditions in the sector and the agreement with Folio has enabled us to synthesize Folio’s first class management team with our financial/financing expertise.
Folio Hotels went into administration a year ago, but was rescued by a management buy out. The properties are aimed at a four-star market with a 60:40 mix of business and leisure guests.