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Akkeron Hotels acquires Butterfly Hotels sites
By Pete Hayman
Akkeron Hotels Group (AHG) has successfully completed the acquisition of 10 hotels from administrators acting on behalf of Butterfly Hotels and Crowne Hotels.
The hotels are located across the Midlands and the East of England and will increase AHG's portfolio to 36 properties, with an annual turnover of around £57m. Each of the sites, which comprises a variety of leasehold, freehold and management operating agreements, are to continue trading with "minimal changes made".
Properties acquired by AHG are currently operating under the Holiday Inn Express (three); Best Western (two); and Ramada (five) brands. AHG managing director Matthew Welbourn said: "The Butterfly acquisition provides the initial phase of the third leg of our midscale business, bringing to the group a portfolio of hotels that trade under international brands.
"Our strategy is to develop our third party branded business, alongside our own 4-star 'light' brand (Akkeron Hotels) and leisure brand (Forestdale)." Forestdale Hotels was acquired by AHG in December 2010 in a deal comprising 18 venues.
Akkeron Hotels Group (AHG) has successfully completed the acquisition of 10 hotels from administrators acting on behalf of Butterfly Hotels and Crowne Hotels.
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