Atlas adds six hotels to its portfolio

Atlas Hotels has acquired six properties located across Glasgow, Edinburgh, Dunfermline and Perth, totalling 569 bedrooms.

The purchase of Chardon Group sees the Atlas portfolio increase to 60 UK sites with over 7,400 bedrooms.

Atlas Hotels, supported by its affiliate L+R Hotels, said it “continues to grow” with 10 hotels having been acquired or opened in the last two years.

Since acquiring the chain in 2016, Atlas Hotels has said it has grown from “strength to strength.” Progress has been driven through individual acquisitions as well as ground-up developments.

Now centrally based at its new headquarters in Leicester, Atlas Hotels added it is the “largest” IHG franchisee in continental Europe. The scale of the platform allows for new assets to be acquired in a timely manner.

Sean Lowe, CEO of Atlas Hotels, 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.”

Desmond Taljaard, managing director of L+R Hotels, added: “We have earmarked over £200m to expand Atlas Hotels. 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.”

Nicola Taylor, CEO and owner of Chardon Group, said: “With the sale, we have ensured the company remains in the very best of hands. Atlas is fully committed to the hospitality sector. The Atlas family of hotels share our integrity and values so we have no doubt this, coupled with their experience and expertise, will result in a very bright future.”