Tue, 16 Nov 2010 | BUSINESS SALE
The budget Campanile and Première Classe hotels were due to be sold off by their owner, Starwood Capital’s Louvre Hotels, but the firm has now decided to take them off the market.
Instead of the sale, which was being managed by Christie & Co, Louvre Hotels have announced plans to grow the brands via a series of planned acquisitions.
David Anderson, European operations director at Campanile, said, “We’d seen an opportunity, and we tried and tested it. But we’ve now decided to hold on to the freeholds and we’re generally planning brand expansions.
“We’re very determined to grow. In the past, growth was through subsidiaries. Now we’re looking at expanding through franchises, management and acquisitions,” he added.
The hotel operator opened its second hotel near Glasgow's International Airport this week, taking its tally of UK budget hotels to 20.
“Glasgow is such a busy, vibrant city, and normal trading is enough to keep hotels going. When there’s a big event or convention, there’s an undersupply of hotels,” said Anderson.
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