Asian hoteliers invest in region

ASIAN hotel operators Compass Hospitality Group and Seacare have completed a multi-million pound acquisition of The Victoria Hotel in Oldham, as the firms continue with UK expansion plans.

The one-time Chadderton manor house is the eighth hotel that the Bangkok-based Compass Hospitality Group manages in the UK.

The acquisition was supported by an undisclosed funding boost, provided by Royal Bank of Scotland.

The hotel was jointly acquired by Singapore based Seacare and Compass Hospitality Group, which have previously teamed up for the acquisition of the Big Sleep Hotels’ portfolio in Cardiff, Cheltenham and Eastbourne in August 2015.

The Victoria Hotel’s previous owners had left the local landmark in need of refurbishment. Following extensive investment in the rooms and dining spaces, the new owners see great potential to attract both business and leisure customers.  

Compass Hospitality Group first entered the UK in April 2015, after securing management of The Lion Hotel in Shrewsbury and The White Swan in Halifax.

Since then, its UK portfolio has expanded to include the Big Sleep Hotels portfolio, The Lace Market Hotel in Nottingham and most recently the Hawkwell House Hotel in Oxford.

Compass Hospitality also manages around 40 properties in Thailand and Malaysia.

Harmil Singh, president and chief executive at Compass Hospitality, said: “Within twelve months of our entry into the UK market in April 2015, we now have eight hotels under management in the UK. The Victoria Hotel marks an important milestone and we intend to build on our market presence here.”

Matthew Welbourn, executive vice president of UK operations, Compass Hospitality, added: “The Royal Bank of Scotland supported our acquisition of three Big Sleep Hotels last year and enabled us to secure a presence across the south of England. We are delighted they have repeated their investment by allowing us to expand our brand in the North West which fully supports our strategy of ongoing investment.”