Stakis has put eight of its 11 three-star hotels up for sale in a move which could raise up to £45m.
The company said it wants to offer just four-star space. The eight hotels are in Corby, Falkirk, Glasgow Airport, Leeds, London Harewood, Nottingham, Paisley and Perth. The sales will reduce its total number of hotels to 46. It will also mean 90% of the company’s hotels will be four-star.
The announcement came as Stakis reported a 86% rise in pre-tax profits to £22.2m for the half-year to March 30. Turnover, excluding exceptionals, rose from £95.8m to £113.4m.
- Financial Times 30/05/97 page 20, page 19
- The Daily Telegraph 30/05/97 page 35
- The Times 30/05/97 page 28 (Stock Market), page 32 (Business Roundup
- The Guardian 30/05/97 page 23
- The Independent 30/05/97 page 26
