Acquisitive Warwickshire-based Talash Hotels Group has boosted its growing portfolio with the purchase of the Mercure Wigan Oak in a deal backed by Allied Irish Bank (GB) (“AIB (GB)”).
Headquartered in Leamington Spa, Talash Hotels was formed in 2007 by brothers Sanjay and Ravi Kathuria, who have grown the group to 11 individual character properties and on course to achieving their ambition to own 20 hotels by 2020.
In the North West, Talash also owns Chimney House Hotel in Sandbach and the Mercure Chester Abbots Well, which it bought in March, with other hotels in the Group including The Allesley Hotel in Coventry; Honily Court Hotel in Warwick, Risley Hall Hotel and Spa in Derby and the Grade I-listed Victorian mansion, Stoke Rochford Hall near Grantham, which Talash acquired from the National Union of Teachers earlier this year.
The Mercure Wigan Oak has 88 bedrooms, eight meeting rooms, restaurant, bar, a civil wedding licence and is the second Talash acquisition to be backed by Allied Irish Bank (GB), following the Group’s purchase of the 4-star Quorn Country Hotel in Leicestershire last April.
AIB (GB)’s team in Birmingham was led by hospitality sector specialist Morgan Keating, working alongside senior relationship manager Mark Duggan. Keating said: “Sanjay and Ravi are building a collection of hotels to which they bring not just their extensive experience to add value to the businesses they select, but also a philosophy of offering a genuine hospitality to their guests. This ethos, combined with the brothers’ business acumen is proving a powerful strategy in a market which has become increasingly competitive in recent years due to the popularity of the sharing economy, through websites such as airbnb, continuing to put pressure on traditional hotels.”
Sanjay Kathuria said: “It’s been great to team up with Mark, Morgan and their colleagues at AIB (GB) again. They’ve been brilliant from start to finish, enabling us to complete the deal swiftly, allowing us to maintain our focus on running the Group.
“Mercure Wigan Oak has huge untapped potential. Our plan is to build the business further by investing in the hotel, particularly its conference and banqueting facilities to capitalise on an increasing demand for business and private functions in the area.”