Corporate event hosts expand portfolio

Date: 25/06/2009

Principal Hayley, a national leader for hotel and conference venues across the UK, has expanded its portfolio to bring two new buildings under its chain to improve its corporate hospitality event facilities.

The organisation announced that it now owns the New Connaught Rooms in London as well as the Glasgow Central Hotel, with both buildings having a lot of history and popularity associated with them.

Furthermore, it is to inject £40 million into the pair in order to renovate and refurbish the properties and make them ideal locations for anyone consulting an event organiser to host a team building conference or similar get-together.

Commenting on the deal, chief executive officer of Principal Hayley Tony Troy said: "We are delighted to support Principal Hayley with further investment for the acquisition of the Grand Connaught Rooms and the Grand Central Hotel.

"Both properties will strengthen an already excellent portfolio and we are extremely keen to develop even more opportunities for the group across the UK and northern Europe."

Other investments held by Principal Hayley include the Royal York Hotel in York and St David's Hotel & Spa in Cardiff.

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