Interchange and Consort Hotels

Interchange and Consort Hotels Limited operate the BWH Hotel Group of brands in the UK under licence from Best Western International Inc.  The business also operated Beacon Purchasing, a procurement group focused on serving the hotel, hospitality, healthcare and leisure sectors.

Interchange and Consort Hotels is a member owned entity with c.300 independently owned and operated hotels in Great Britain collectively distributing close to 1 million hotel rooms per annum.

Park Place has been a longstanding retained advisor to Interchange and Consort Hotels providing strategic advice to the Board on various financial and commercial matters.   Having had several unsolicited approaches from interested parties, we were engaged to advise the Board on the potential sale of Beacon Purchasing.

With our support and industry insight it was concluded that the divisions of Interchange and Consort would more fully prosper as separate entities which ultimately concluded with the sale of Beacon Purchasing to Entegra, a food focussed purchasing group, part of Paris-based Sodexo – a leading global procurement company with in excess of €20 billion annual volumes.

Jeremy Pick, Chairman of Interchange and Consort Hotels, said “We’ve worked with Park Place over a number of years and were delighted to secure their counsel in evaluating the unsolicited approaches we received for our purchasing division.  With the benefit of their experience and expert guidance we have now concluded a transaction that represents a great outcome for Beacon, our members and ICH.  The proceeds from the sale will enhance the financial security of the business, facilitate the development of our hotel brands and enable us to explore other commercial opportunities and income streams.”

Richard Firth, who led the deal for Park Place commented, “Against a backdrop of high inflation, the compelling proposition of increased scale, broader services and incremental purchasing categories will be of particular benefit to the members of Interchange and Consort Hotels.  The significant nuance of our client being responsible for the acting in the best interests of c.300 members added an extra dimension to our role and the nature of the considered advice we provided.”

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