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Press Releases

Shearings acquires three top north eastern hotels

Shearings Holidays, the UK’s 9th largest hotelier has acquired three more hotels; St George Hotel in Harrogate, the George Hotel in Chollerford near Hexham, Northumberland and the Eden Arms Hotel in Rushyford near Durham. The move follows extensive market research and customer segmentation.

More traditionally famous for its leading position in the coach holiday sector, the move to expand the hotel estate reflects an investment plan of almost £25 million in Shearings’ hotel business including the rationalisation of its hotels into a three-tiered structure: Coast & Country, Classic Collection and Value Collection.

According to Denis Wormwell, Chief Executive the move reflects changing market demand:

“Increasingly our hotels are attracting independent and more sophisticated travellers who naturally have high expectations,” he commented. “In an economic climate where the strength of the Euro puts people off travelling abroad it makes sound commercial sense to commit our resources to expand our hotel portfolio.”

Marc Gilbard, from Moorfield Group, the investment and asset manager for MREF  added:

"We are pleased to continue supporting the Shearings expansion plans with the acquisition and leasing of these three Hotels to Shearings. We believe these latest acquisitions are ideally located to capitalise on the success of the Shearings concept, and will further boost the company's extensive portfolio of hotels throughout the UK. With this recent acquisition we have now increased the portfolio from 39 hotels to 46 hotels. "

The St George Hotel and the George Hotel have been categorised as part of the premium Coast & Country range offering finer hotels at fairer prices. The Eden Arms hotel has been added to the Classic Collection offering the quality and value you’d expect from the Shearings brand. The three new hotels are all situated in areas of outstanding beauty and are in superb locations to visit the surrounding area and attractions. The new hotels can be booked by contacting the hotels directly or by visiting www.shearings.com

For further information or to interview Denis Wormwell call Kate Bostock, Shearings Communications Manager on 01942 823591.

 

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