Chardon Management Concludes Relationship with Starwood Capital

Chardon Management, the UK’s leading independent hotel management company, has concluded its seven year management relationship with privately held global investment firm Starwood Capital Group.

The firm has managed four Holiday Inns, in Brighton, Leeds, Norwich and East Kilbride, since 2005. It is anticipated that a transfer of control of the hotels will be completed in December.

Chardon Management Managing Director Robert Crook said: “Having originally entered into a five year arrangement, which was extended subsequently by a further three years, the conclusion of our relationship with Starwood Capital follows several months of discussions about the on-going management of the hotels.

“These discussions were set against a background of a perceived requirement for investment which we regard as key, given the intensely competitive markets within which these hotels operate in this challenging economic environment.”

Over the next three months Chardon Management will open three new hotels – in Windsor, Southend and Sittingbourne – and is presently working on another trading hotel opportunity with an existing owner as part of its growth strategy to expand its portfolio by 10% per annum by actively seeking further hotel management contracts with developers, investors and administrators.

Indeed Chardon Management was recently chosen to manage the roll out of the new Puma Hotels’ Collection brand throughout the UK. The launch of this new brand follows the recent agreement by Spanish company Barceló to return ownership to hotel owner Puma Hotels after exiting from an agreement to operate 20 country house and four star hotels across the UK.

In addition to these 20 Puma hotels, health and fitness clubs and spas, Chardon currently manages 35 hotels and seven health and fitness clubs throughout the length and breadth of the UK and its own brand portfolio comprises: La Bonne Auberge; Limelight Bar & Grill; Triangle Health and Fitness; Tri Health & Beauty and Hoteldeals.co.uk – all of which benefit its hotel owners.

ENDS

For further information please contact Nicola Taylor at Chardon Management tel 0141 333 0545

Issued on behalf of Chardon Management by Liquorice Media tel 0141 561 4018 www.liquorice-media.com

Date 2 July 2012

Contact: Susan Christie
Phone: 0141 561 4018
Email: susan@liquorice-media.com
Website: http://www.liquorice-media.com