Additional Shearings Hotels - July 2008
MREF II acquired three hotels (182 rooms) to add to the Shearings Portfolio:
- The St George, Harrogate
- The George, Chollerford
- The Eden Arms, Rushyford
These were formally operated by the Swallow Group and on acquisition were let to Shearings on long leases.
Each hotel was acquired with adjoining land where there are opportunities to develop additional and alternative accommodation. All of the hotels are being refurbished where necessary and two will join the ‘Coast and Country’ brand within Shearings (see Shearings summary in MREF Investments)