Marston rethinks sale to launch investment plan

Monday 29th November 2004 18:58
Hotel chain Marston is launching a major investment programme, including a new-build 120-bedroom hotel in Nottingham, after failing to attract a suitable buyer.

A deal with early frontrunner Dawnay Shore Hotels fell through with the company not prepared to pay the £175m price tag.

Chairman and managing director Chris Scragg said Marston's shareholders had concluded there was "a considerable upside" to maintaining ownership.

Marston, which instructed the agent Christie & Co to market its 15-strong portfolio in September, will now invest in renovating and refurbishing its portfolio, with the Nottingham hotel due for completion in early 2006.

Featured video - for more, visit Caterer and Hotelkeeper’s YouTube channel >>

    Caterer and Hotel Keeper Jobs
    Most ReadMost Viewed News
    Sign up to Caterer and Hotelkeeper
    Mobile Site
    Also on Caterer and HotelKeeper