Lake District hotel snapped up by private investors
A hotel in the Lake District has been bought by a private investor.
Rothay Garden Hotel and Riverside Spa has been acquired by Fairtree International on behalf of the private investor in partnership with the growing hotel management group Providence Hospitality.
The Grasmere hotel has 30 luxury bedrooms, of which 12 are suites.
Chris Carss has owned the hotel for 30 years, and was the driving force behind the repositioning of Rothay Garden to high four-star standards.
During his tenure and developed a new garden restaurant and riverside spa.
Fairtree International has acquired Rothay Garden on behalf of a private investor Fairtree International and Providence Hospitality, both forming part of the Fairtree group of companies.
The firm has a strong track record of owning and operating boutique and niche hotels and resorts in the UK and South Africa.
Providence now manages a total of 17 properties, of which nine are in the UK.
The group already owns two hotels in Cumbria – award-winning Borrowdale Gates Hotel near Keswick and The Grange at Grange-over-Sands – backed by its bankers NatWest.
Providence’s co-founder Joe Bester believes the climate is ripe for further expansion within the UK.
He said: “We aim to be well-represented countrywide and establish a reputation as one of the top hotel operators in the UK and South Africa. We are planning to continue growing our quality portfolio in the UK and the addition of Rothay Garden is a great step toward that,” Joe adds.
Chris Carss now aims to retire from hotelkeeping after 45 years in the industry but has other business interests to work on.
He said: “A huge thanks and well done to the whole team at Rothay Garden. And to our family of guests, past and present, who have made the hotel what it is, and contributed greatly to the relaxed and happy atmosphere here.”
“I have really enjoyed getting to know the teams at Fairtree International and Providence Hospitality and am delighted that Rothay Garden will remain in safe and capable hands.
“A bright new chapter is beginning for the hotel, its staff and its guests.”
Providence Hospitality is a hotel management company based in the UK and South Africa and has been operating within a niche sector of the hospitality market servicing boutique hotels, resorts, lodges and guest houses.
Fairtree is a South African investment manager that manages alternative and long only investment portfolios for a diversified selection of local and offshore clients.
The team of investment professionals manage more than £3.4bn of portfolios in multiple asset classes including hedge funds, traditional unit trusts, private equity and property.
