UK-based franchise group Atlas Hotels has expanded its portfolio with the addition of six properties in Scotland from Chardon Group.
With a combined total of 569 bedrooms, the newly added hotels are located in Glasgow, Edinburgh, Dunfermline, and Perth.
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The properties are Holiday Inn Glasgow Theatreland, Holiday Inn Express Glasgow, Holiday Inn Express Edinburgh Royal Mile, Holiday Inn Express Edinburgh Airport, Holiday Inn Express Dunfermline and Holiday Inn Express Perth.
The new additions increase the company’s portfolio to 60 UK sites with over 7,400 bedrooms.
Atlas Hotels CEO Sean Lowe said: “Our decision to acquire the Chardon hotels reflects our ambitious growth strategy to become the leading multi-brand platform for Select Service hotels in the UK, and we are excited to welcome the teams into the wider Atlas family.
“Despite the tough challenges of trading through the pandemic, our portfolio has remained cash positive, demonstrating the resilience of this sector. Our operating model has allowed us to quickly integrate new assets and provide a stable platform for recovery and growth.”
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By GlobalDataAtlas Hotels, which was acquired by L+R Hotels in 2016, has purchased or opened ten hotels in the past two years.
Headquarters in Leicester, Atlas Hotels operated 47 UK hotels at the time of takeover by L+R Hotels.
The new owner has earmarked over £200m ($271.2m) to expand Atlas Hotels.
The company is also one of the largest IHG franchisees in continental Europe.
L+R Hotels managing director Desmond Taljaard said: “We are actively seeking to add existing hotels, along with conversion and development opportunities. We want to be the easiest buyer to deal with, as we seek to grow this key sector for L+R Hotels. Working with Atlas management team enables us to underwrite, transact and integrate new hotels very efficiently.”
