The rapidly expanding Surya Hotels group has swelled its portfolio by a further four hotels after announcing the acquisition of a multi-million pound line up of Dragonfly Hotels.
RBS appointed Colliers International’s Hotel Agency Team to sell the Dragonfly portfolio in July 2015. The chain, which operates in five key locations across East Anglia, has an estimated joint value of around £14m.
Surya Hotels – part of Flying Trade Group which is also behind leading authentic world food giants Surya Foods – have snapped up the four of the five hotels which are based in Norfolk, Suffolk and Essex:
- Dragonfly Hotel Peterborough, Thorpe Meadows, Peterborough, Cambridgeshire PE3 6GA
- Dragonfly Hotel Colchester, A12/A120 Ardleigh Junction, Colchester, Essex CO7 7QY
- Dragonfly Hotel Bury St Edmunds, Symonds Rd, Bury St Edmunds IP32 7DZ
- Dragonfly Hotel King’s Lynn, Beveridge Way, Hardwick Narrow, King’s Lynn, Norfolk PE30 4NB
The exact price paid for each of the hotels is not being disclosed by Surya Hotels, however, below are the guide prices disclosed by Colliers International’s Hotel Agency Team in July 2015:
- 50-room King’s Lynn hotel (Norfolk) – £1.85m
- 50-room Colchester hotel (Essex) – £1.95m
- 71-room Bury St Edmunds hotel (Suffolk) – £3m
- 70-room Peterborough hotel (Cambridgeshire) – £3m
Surya Hotels
Surya Hotels are one of the UK’s leading niche hotel groups with a rapidly expanding portfolio of properties, situated in some of the UK’s most idyllic settings, from historic towns and coastal resorts to picturesque villages.
The successful acquisition sees Surya Hotel’s portfolio increase to 11 hotels across the UK, with the Dragonfly properties joining the likes of Great Hallingbury Manor, near Stansted, The Kingscliff Hotel, Essex, The Duke’s Head in Norfolk and The Mill Hotel in Suffolk.
All four Dragonfly hotels are open for business as usual and will remain under the ‘Dragonfly’ brand, with significant investment planned across the group to bring the properties in line with Surya Hotel standards.
While Surya Hotels will now assume management, it will not result in any staff changes on the ground and the hotel’s staff will be transferred to Surya Hotels Ltd under a TUPE arrangement.
Suki Dulai, Managing Director of Surya Hotels Ltd said: “The Dragonfly portfolio is a great fit for our brand – which is all about delivering quality facilities at fantastic prices in the heart of stunning villages, towns and thriving local communities.
“We are delighted to have successfully acquired four wonderfully situated venues in East Anglia to add to our already impressive line-up in the area. All four hotels will undergo extensive refurbishment to bring them up to the standards of others within our group.”
This is the second acquisition by the Surya Hotels group completed in 2015. In January it added The historic George Hotel to its portfolio – one of Colchester’s most iconic and long standing hotels.
The majority of Surya Hotels are set amongst East Anglia’s top, historic tourist hotspots, ideal for exploring the surrounding countryside and coast, with the added benefit of excellent conference and banqueting facilities. Two further Surya Hotels – The Hog’s Back Hotel & Spa, Farnham and The Thatchers, Guildford – are located in Surrey, providing the perfect base to explore some of the UK’s leading attractions, including Ascot, Thorpe Park, Legoland and Chessington World of Adventures.