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Luxury hotel and bar operator Cairn Group has announced it is to launch a ‘major acquisition’ drive after it successfully refinanced £101m with the help of HSBC.
The privately-owned business will use £50m of the total pot for acquisitions and developments in a bid to strengthen its portfolio, which already includes 26 hotels and more than 30 bars and restaurants as well as care homes across the UK.
The announcements follows the latest acquisitions of the Ramada Glasgow Airport hotel in November last year and the 17th Century Buckinghamshire country house Stoke Place hotel.
The company said it has increased its number of staff from 2,000 last year to 2,300, and is planning to grow employment even further throughout 2016 at its Newcastle-based headquarters.
Richard Warren, finance director said: “We are incredibly proud to work with our partners on a variety of exciting projects and would like to thank them for their continued support – as well as the hard work, diligence and effective approach is greatly appreciated.
“Our ethos as a company is to engage with local communities and invest in our dedicated workforce to be able to offer exceptional service to customers.
“It’s extremely rewarding to secure jobs, as well as establish new employment opportunities and search for rising stars in the industry – which HSBC and Mincoffs have enabled us to do even more rigorously.”
