Cairn Hotel Group plans to create 200 jobs as part of a refurbishment program of four hotels, which will subsequently be branded under the InterContinental Hotels Group umbrella. The hotels receiving the transformation are the Station Hotel in Aberdeen and The Bellhouse in Buckinghamshire, which will become Crowne Plazas, while the Chasley Hotel in Wakefield will become a Holiday Inn Express. The Royal British in Edinburgh will become a Hotel Indigo.
The Newcastle-headquartered firm has completed a £31.5m refinance with HSBC’s Yorkshire and North East Corporate Centre, which includes £6.5m of new finance to support the revamp scheme.
Cairn Group also says it will also use the finance to invest in upgrades at its other properties as part of its strategy to continually improve, and it also plans to seek further acquisitions to expand its portfolio.
Cairn Group Finance Director Richard Warren said: "Our portfolio offers a broad range of hotels for a wide spectrum of customers, from the high end to travellers on a budget. However, some of our properties are better suited to a mainstream hotel brand as consumers are typically attracted to larger brands that they recognise and trust.
"That is why we have affiliated with IHG, which gives us a better path to market with some of our properties."