New Hotel Group Forms in United Kingdom
Akkeron Hotels
DECEMBER 2, 2009 - A new hotel group called Akkeron Hotels has been formed following the purchase of eight former Folio hotels. The group intends to build up a portfolio of up to 150 regional hotels across the UK,
and will own, lease and manage contracts on the various hotels.
James Brent, chairman of Akkeron, said: “The regional UK hotel market provides a real opportunity for a company such as ours which combines access to equity and debt finance, and management expertise and integrity. Akkeron Hotels has been set up to capitalise on current market conditions in the sector and the agreement with Folio has enabled us to synthesise Folio's first class management team with our financial/financing expertise.
“Comprising a core team of professionals with skills and experience across operational hotel management, acquisitions, disposals, financing, legal and corporate finance, we believe that Akkeron offers a high-quality platform from which to develop a substantial UK-focused hotel business.”
Folio Hotels went into administration a year ago but was rescued by a management buy out.
The properties are aimed at a four-star market with a 60:40 mix of business and leisure guests.
The hotels bought by Akkeron are: Makeney Hall, Derbyshire (pictured); The Yorkshire Hotel, Harrogate; The Caledonian Hotel, Oban; Cedars Health and Leisure Club, Richmond-upon-Thames; and the Harte & Garter Hotel & Spa in Windsor.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
