Palace Hotel owner changes hands
PRINCIPAL Hayley, the owner of Manchester's Palace Hotel, has been bought by the US-based Starwood Fund.
The group has 23 hotels including Cranage Hall in Holmes Chapel, Cheshire.
It is understood to have changed hands for around £360m.
Most of the cash will go to Lloyds which took control of the business from private equity group Permira in a debt-for-equity swap in 2010.
Chief executive Tony Troy said: “We are pleased with the opportunity to work with Starwood Capital, which has ... For the full story register now for free or login below...