The Cedar Court Hotels group consisted of 5 well-known hotels across West and North Yorkshire. PPCF were engaged in 2013 to assist the family shareholder base realise the value created in the 30 years since they developed their first hotel.
As an initial step, in 2014, we concluded the sale of The Cedar Court Grand Hotel & Spa in York to Splendid Hospitality Group. The 107 room York hotel was at the time Yorkshire’s only five star hotel. Owing to the quality of the asset potential buyers were identified and approached via a discreet rather than a general marketing exercise.
The initial transaction allowed the group to concentrate resource and investment into its core estate of 500 rooms spread across four hotels.
Following a further strategic review the decision was taken to market the remaining four hotels in 2017 which resulted in the portfolio being sold to an overseas-funded UK hotel market entrant. Further investment into the group is expected to enable the group to flourish under new ownership.