Akkeron Hotels Group Limited (“Akkeron” or “the group”) is pleased to announce that The Coombe Abbey Hotel near Coventry is now associated with it. This support service contract with Akkeron will increase the number of hotels in the group to 37, employing 1,630 people and with a combined annual turnover of over c£60m, cementing its position as one of the largest regional hotel operators in the UK.

Coombe Abbey, originally a 12th Century Cistercian Abbey which is owned by Coombe Parks Limited under the No Ordinary Hotel Group brand, will continue to operate as usual, inside the portfolio of Akkeron Hotels. The hotel has 119 guest rooms and is set in 500 acres of English parkland gardens.

By bringing Coombe Abbey under the Akkeron umbrella, the hotel will be promoted and supported to the market with a wider sales distribution network.

Akkeron has plans to grow its business into the leading provincial UK hotel business with a portfolio of up to 150 regional hotels across the UK. This will be achieved by forming sustainable partnerships with banks, leaseholders, local communities, local suppliers and other stakeholders as well as management contracts with independent hotels. Akkeron is well-capitalised, with long term financing in place and significant management expertise.

Akkeron confirmed that it continues to work on an aggressive acquisition pipeline to increase the number of hotels into the portfolio over the next 6–12 months.

Today’s association follows the announcement in December 2010 that Akkeron had acquired Forestdale Hotels Limited, a group of 18 three star regional hotels. In addition, Akkeron announced the acquisition from administration of the Butterfly Hotel Group with an additional nine hotels in February 2011.

Akkeron has already committed to investing in some of its key locations including Pratts Hotel in Bath, The Winchester Royal in Winchester and The Shillingford Bridge Hotel in Oxon. It plans to improve the quality of their offering to customers and works will begin in November 2011. Akkeron is also in the process of making large investments in people, training and systems to ensure that the group is well-placed to provide its customers with a first-class service. Akkeron has also announced that it will open a new Ramada Encore hotel in Leicester, mid October 2011, as it continues to grow its internationally branded hotels.

Commenting on the partnership, Matthew Welbourn, managing director of Akkeron Hotels Group, said: “We are delighted to welcome Coombe Abbey into the portfolio. This is a landmark venue in the Midlands and has continued to go from strength to strength. With the addition of the hotel to Akkeron’s distribution network, we will work together to grow revenue to both the business as a whole and to the growing Akkeron estate.”

Gordon Bear, creator and proprietor at No Ordinary Hotel Group, added: “By joining forces with Akkeron as a group, we will continue to maintain the high levels of hospitality we have always been known for and look forward to Akkeron supporting the business to take it to the next level. This support services partnership will give Coombe Abbey a bigger platform to the marketplace and management support.”

For further information, please contact:
Matthew Welbourn, Managing Director – 07771 756300
Nick Greaves, Group Sales and Marketing Director – 07825 277120

NOTES TO EDITORS
Information on Akkeron Hotels Group Limited Akkeron Hotels is a growing UK focussed mid-market and regional hotel business comprising 3* and 4* hotels. The Company intends to build a portfolio of up to 150 regional hotels and it is expected that Akkeron's interests in these will comprise a blend of freehold ownerships, leases and management contracts. Following the acquisition of Butterfly, Akkeron Hotels’ portfolio consists of 37 hotels, employing 1,630 people, with a combined turnover of c£60m making it one of the largest regional hotel operators in the UK.

Information on Akkeron Group LLP
Akkeron Group was formed in 2008 by James Brent, previously Global Head of Real Estate & Lodging Investment Banking at Citigroup, with a focus on real estate-based operational businesses. Akkeron’s key areas of activity include:
— Management-intensive real estate portfolios e.g. hotels — Urban regeneration focused on the South and South West of the UK — Large-scale agriculture in emerging markets.

Akkeron pursues a partnership approach to its investment programme, leveraging its skills across real estate, development, financing and corporate finance.