Yorkshire’s only five star hotel, The Cedar Court Grand Hotel & Spa in York, has been sold to Splendid Hospitality Group.
The grade two listed Cedar Court Grand Hotel & Spa was built in 1906 as the headquarters for North Eastern Railways. It was redeveloped, following a c.£30m investment, as a luxury hotel by Cedar Court in 2010. The hotel comprises 107 guest rooms as well as restaurants, bars and conference and banqueting facilities.
Acting as retained advisor to Cedar Court, PPCF led the transaction which will allow the group to concentrate resource and investment into its core estate of four-star hotels. Owing to the quality of the asset potential buyers were identified and approached via a discreet rather than a general marketing exercise.
David Hardless, who led the deal for PPCF, commented “we are delighted to have assisted Cedar Court in realising the value of this unique asset which will allow the business to strengthen and refocus on its core offering.”