Principal Hayley changes hands

THE Harrogate-based Principal Hayley hotel group has been bought by the US-based Starwood Fund.
 
The group has 23 hotels including The Met in Leeds, The Royal York and Kenwood Hall in Sheffield.
 
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 Starwo... For the full story register now for free or login below...

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