Hotel owner and operator, Fairview Hotels, has expanded its portfolio with the purchase of three hotels from Land Securities and AccorHotels. The hotels comprise of Ibis Cardiff City Center, Ibis Rugby East and Novotel Newcastle Airport. This deal is the second major acquisition for the group over the past six months, having previously acquired four Novotel hotels from Land Securities & AccorHotels in December 2016.
Fairview Hotels, owned by the Chatwani Brothers, has grown its portfolio to twelve hotels, 7 Novotel’s, 3 Ibis and 2 Mercure’s (London Bloomsbury and Letchworth Hall) totaling over 1300 rooms. All of the properties are owned and operated by the group under franchise agreements with AccorHotels.
Neil Forbes, Director of Hotels at Fairview Hotels said “We are thrilled to be taking on these additional properties. We know and understand the Novotel and Ibis brands and believe they will be a great addition to our portfolio and further strengthen our relationship with AccorHotels”
Whilst Fairview will now focus on the renovation and refurbishment of these properties, along with the integration into their existing portfolio, the group will continue to look for appropriate complementary acquisition opportunities in the hotel sector.