L+R’s Atlas Hotels has bought the Chardon Group, which owns six properties across Scotland, for an undisclosed sum.
The hotels are located in Glasgow, Edinburgh, Dunfermline and Perth, and total 569 bedrooms.
The purchase of the business sees the Atlas’s portfolio increase to 60 UK sites with over 7,400 bedrooms.
The L+R-backed company has seen its portfolio grow with ten hotels having been acquired or opened in the last two years.
Atlas Hotels is headquartered in Leicester and is a major franchisee of IHG-branded hotels.
The Chardon Group was founded in 1972 by Scottish hotelier Maurice Taylor.
What They Said
Sean Lowe, CEO of Atlas Hotels, said: “Our decision to acquire the Chardon hotels reflects our ambitious growth strategy to become the leading multi-brand platform for Select Service hotels in the UK, and we are excited to welcome the teams into the wider Atlas family.
Desmond Taljaard, Managing Director of L+R Hotels said: “We have earmarked over £200 million to expand Atlas Hotels. We are actively seeking to add existing hotels, along with conversion and development opportunities. We want to be the easiest buyer to deal with, as we seek to grow this key sector for L+R Hotels. Working with Atlas management team enables us to underwrite, transact and integrate new hotels very efficiently.”
Nicola Taylor, CEO and Owner of Chardon Group said: “As a family, we have devoted most of our working lives to the hospitality industry. We have enjoyed great success, but my parents agree with my decision that it is now time for us to step back. With the sale, we have ensured the company remains in the very best of hands. Atlas is fully committed to the hospitality sector. The Atlas family of hotels share our integrity and values so we have no doubt this, coupled with their experience and expertise, will result in a very bright future.