13 July 2010
FOLIO HOTELS RE-BRAND AS AKKERON HOTELS AFTER AQUISITION BY AKKERON GROUP AND THE LAUNCH OF THEIR NEW WEBSITE WWW.AKKERONHOTELS.COM
Folio Hotels, a UK based group of 8 hotels which has today announced that it has rebranded as Akkeron Hotels to coincide with the launch of the groups new company website www.akkeronhotels.com
Akkeron Group, an investment business formed in 2008 by James Brent, previously Global Head of Real Estate & Lodging of Citi's investment bank, acquired Folio Hotels in December 2009. The last 6 months have involved both in a rebranding exercise of the portfolio and a creation of a brand new website and booking engine in line with the launch of Akkeron Hotels.
The Akkeron Hotels brand, which will officially come into effect from 13th July 2010 include: Makeney Hall, Belper, Derbyshire; The Yorkshire Hotel, Harrogate; The Caledonian Hotel, Oban; Cedars Health and Leisure Club, Richmond-upon-Thames; and the Harte & Garter Hotel & Spa in Windsor.
Akkeron Hotels intends to build a portfolio of up to 150 regional hotels across the UK. It is expected that Akkeron's interests in these will comprise a blend of ownership, leases and management contracts. Conversations are being advanced with a number of hotel groups, landlords and banks Akkeron Hotels is a group of high-quality and well-run hotels that continues to outperform the overall regional hotel market. Commenting on the launch of the new brand, Nick Greaves, Group Sales and Marketing Director, said: “We are delighted to officially launch Akkeron Hotels to the market. Since we were acquired by Akkeron Group at the end of last year we have spent the last 6 months rebranding the hotels to reflect where we want to be in the UK hotel sector and of course this included the creation of our new website www.akkeronhotels.com”. Greaves continued “The first half of the year has been encouraging for the group and we remain committed to growing our agent business with the continued success of our 15 day prompt payment scheme, which is based around smaller hotel and conference booking agents receiving their commissions within 15 days.” “Since the launch of the scheme in January 2010, 97% of all commission payments to small to medium sized HBA’s have been paid within a 15 day period”, in this tough climate in relation to cash flow it makes commercial sense to continue with the scheme, “the HBA receive their commission payments quicker and we attract more business into our hotels. Everybody wins”
For further information, please contact:
Tel: 020 7647 6670
Tel: 07771 756300
Tel: 07825 277120
NOTES TO EDITORS
Information on Akkeron Group LLP
Akkeron Group LLP 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. Marten Foxon is Akkeron’s Head of Hotels and Leisure.
Akkeron’s key areas of activity include:
Management-intensive real estate portfolios e.g. hotels, residential
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.
Background to Akkeron Hotels
Akkeron Hotels offers a range of hotels with individuality and character. They serve both business and leisure customers with a 60:40 mix, respectively.
Many of the hotels have been re-positioned following an extensive capital expenditure programme, and now offer four-star equivalent accommodation in an independent style.
The Akkeron Hotels management team is led by Matthew Welbourn, Group Managing Director. Prior to joining Akkeron, Matthew had worked at Hilton and Queens Moat House Hotels. Alan Murray is Group Finance Director who before joining the Akkeron team was CFO of Noble House Leisure which operated 30 restaurants predominantly in the London area. Nick Greaves is Group Sales and Marketing Director. Prior to joining Akkeron, Nick had worked with Expotel, the UK’s leading independent travel management company and Hanover International Hotels.
The leasehold interests in the following businesses within Akkeron Hotels are:
• Belper, Derbyshire, Makeney Hall
• Exeter, Buckerell Lodge
• Harrogate, The Yorkshire Hotel
• Glencoe, Ballachulish, The Isles of Glencoe Hotel
• Glencoe, Ballachulish, The Ballachulish Hotel
• Oban, The Caledonian Hotel
• Richmond-upon-Thames, The Richmond Gate Hotel
• Richmond-upon-Thames, Cedars Health and Leisure Club
• Windsor, The Harte & Garter Hotel & Spa
Colin Johnston, who heads a group of companies under the name Clear (including Clear Healthcare Group), has a number of commercial and residential property interests across the UK.
Akkeron Hotels Limited is a limited company (registered in England and Wales) Registration No. 07061052; Registered Office: 152 - 158 Richmond Hill, Richmond upon Thames, Surrey, TW10 6RP.