CAIRN GROUP PURCHASES FIVE UK HOTEL COLLECTION PROPERTIES
Northeast England-based Cairn Group has purchased five properties within the Hotel Collection portfolio from Lone Star Funds off a guide price of £75 million. The new additions to the Cairn Group's expanding portfolio are the 143-room Redworth Hall, a Jacobean country house in Durham that can trace its history back to 1693; the 154-room Old Ship Hotel on Brighton’s seafront; the 102-room Angel Hotel, which is housed in a landmark Victorian building in Cardiff city centre in Wales; the 170-room Majestic Hotel, set in eight acres of private grounds in the spa town of Harrogate; and the 96-room Stirling Highland Hotel, which was originally built as a school in 1854 in the Scottish city of Stirling. Cairn Group's hotel portfolio has now grown to 31 properties across the UK. Lone Star announced that it would be selling ten regional properties from the Collection in March 2016 and only four remain on the market.