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Tulip UK hotels to become Premier Inns
Six hotels representing 770 rooms trading in the UK under the Tulip Inn and Golden Tulip brands have been purchased for Whitbread’s budget Premier Inn brand.
Whitbread has also secured pipeline of nine further sites to open in the next two year providing an additional 1,300 rooms
The total deal is worth £44 million.
The total of 15 leasehold hotels will be converted to the Premier Inn brand at a cost of £9 million.
The six hotels are located at: Glasgow. Newcastle Gateshead, Portsmouth, Leeds Castleford, Dublin Airport and Manchester.
The further nine sites are in Bournemouth, Manchester Airport, Stoke/Trentham, Belfast, Sheffield, Doncaster, Gatwick, York and Hull.
Franchise arrangements with Golden Tulip Worldwide have been terminated and the six open hotels will be rebranded by the end of the year.
The hotels have been purchased through the acquisition of Golden Tulip (UK) and Pilot Hotels.
Whitbread CEO Alan Parker said: “I am pleased that we are able to buy these modern and well-located hotels for Premier Inn, the UK’s largest and fastest growing hotel business.
“Once rebranded and integrated into our Premier Inn portfolio, our focus will be on occupancy and securing further sites in the pipeline over and above these 15 hotels.
“We will now have our first Premier Inn in the Republic of Ireland and will be looking for other opportunities in that country.
“There is clearly significant growth potential through conversions such as this and, coupled with our aggressive organic pipeline, we are well on track to reach our target of 45,000 rooms in the UK by 2010.”
by Phil Davies
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