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Rent disagreement sees Barceló pay £20.25m to pull out of UK

04/04/2012

Spanish hotel company Barceló has agreed to pay £20.25m to pull out of the UK market.

It will pay the penalty fee to Puma Hotels for early termination of leases on 20 hotels in England, Scotland and Wales, following a stand-off over rent.

Puma Hotels will resume operation of the four-star hotels, with the assistance of Chardon Management, which already manages 33 properties across the country.

Puma intends to rebrand the Barceló properties as Paramount Hotels. “It is intended that a full public re-launch of the Paramount brand will be made following the successful handover of the hotels,” said a spokesperson.

In total, the 20 hotels offer 2,875 bedrooms and around 20,000 sq ft of event space. Properties include The Hinckley Island Leicestershire, The Imperial Blackpool, The Majestic Harrogate, Walton Hall Warwickshire, The Old Ship Brighton and The Carlton Edinburgh.

Pictured: The Barceló Hinckley Island Hotel in Leicestershire


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