Derbyshire hotel sold to investment fund
A HOTEL group with a venue in Derbyshire has been bought by an investment fund.
The Principal Hayley hotel group, which owns The Derbyshire Hotel, at South Normanton, has been acquired by the fund, which is affiliated with Starwood Capital Group.
The deal, the cost of which is undisclosed, is for Principal Hayley’s 23 hotels, which are sited across the UK.
The transaction continues Starwood’s expansion into the hotel sector as the company already owns more than 1,100 hotels.
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Barry Sternlicht, chairman and chief executive of Starwood Capital Group, said: “This transaction marks an exciting investment in the European hotels and conferences sector and provides a great management platform for us to expand further in Europe.”