Register to get 3 free articles
Register to unlock the article and receive our free newsletter. Join 26,000 other hotel leaders and stay in the know.
Want unlimited access? View Plans
Already have an account? Sign in
Providence Hospitality has purchased four new hotels in the South West region through its management contract with Fairtree.
The company has a contract to manage all the properties owned by Fairtree.
After acquiring £16m in finances from Natwest, The Fairtree Hospitality Real Estate Private Equity Fund bought the new establishments.
The fund, which was managed by Fairtree Capital, bought the Queens Hotel and the Palace Hotel in Paignton, Headland Hotel in Torquay and Northfield Hotel in Minehead.
Joe Bester, director at Providence Hospitality, said: “Providence prides itself on the highest quality of customer care, and we are keen to maintain our reputation in these new locations.”
The company said it hopes to boost tourism to these areas through the investment.
Kobus Nel, director at Fairtree Capital, said: “The funding we received from NatWest has allowed us to expand our reach across the South West of England, and marks the beginning of an exciting journey.”
