Regal sets out plans for capital expansion

Regal sets out plans for capital expansion

REGAL Hotel Group is looking for more purchases in London and within the M25 to add to its Corus-branded portfolio.

The group is currently investing £80m in a total refurbishment and rebranding of its 114 UK mid-market Regal Hotels, renaming them Corus as they are revamped. It hopes to have converted 30 to Corus by the end of the year.

But Regal management feel the company is under-represented in the capital and surrounding towns. In that area Regal only has the Richmond Hill Hotel and the Richmond Gate in Richmond, Surrey, the Plaza on Hyde Park, The Roebuck Hotel in Buckhurst Hill, Essex, The County Hotel in Epping Forest and The Waterloo Hotel near Bracknell.

A spokeswoman for the group said: "Our aim is to be the leading mid-market hotel brand and we feel to do that we really need to have a higher presence in London and inside the M25."

Regal is also in the middle of trying to offload 34 properties which it does not feel fits the Corus brand. Many of the properties, which are in Regal's possession after a rash of acquisitions in the last few years, are seaside hotels which do not lend themselves to mid-week corporate bookings, the market Corus is chasing.

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