Tourism, Hospitality and Leisure
County firms emerge as key players in Cheltenham hotel sale
Chris and Julie Taylor, the former shareholders and owners of The Clarence Court Hotel, have sold the business for an undisclosed sum.
Making the deal possible was one of the spa town’s highest profile law firms and one of its best-known accountancy practices.
BPE corporate solicitor Kathryn King with assistance from partner, Louise Grzasko, led for the law firm with accountancy advice provided by Nick Mayers of Baldwins Accountants, which also has offices in Gloucester.
It is understood specialist mergers and acquisition advisory business Cardiff-based law firm GReenaway Scott, part of th GS Verde Group, advised the buyers on the deal, which was funded by HSBC UK and saw Harlequin Hotels (Cheltenham) Limited taken over by C&E Diamond Holdings Ltd, based in Chippenham, Wiltshire.
Chris and Julie Taylor, the former shareholders and owners of The Clarence Court Hotel, said: "We know that the hotel is in good hands with the new owners who have spent all their working lives in the hospitality sector.
"They see the hotel, which currently remains open for key frontline workers and to support the local community, as a long-term investment despite these uncertain times.”
New co-owners of the AA Gold Star hotel in Clarence Square, which includes the Joules bar and restaurant, are understood to be Christopher Cottam and Elaine Cross.
Ms King said: “It has been an absolute pleasure working with Chris and Julie on the sale of The Clarence Court Hotel, especially given the uncertainty surrounding the Covid-19 pandemic which is impacting the hotel trade at this time.
“It is always rewarding to act for the owners of a local business and we wish the new owners all the best on their new venture.”
The law firm’s corporate team advised on the sale of the entire issued share capital of the holding company. Support also came from commercial property's Thomas Christie.
Managing partner, Antonia Shield, advised on the surrender and regrant of the lease on the hotel.