Thistle Hotels
Encyclopedia
Thistle Hotels is a UK-based hotel company with a portfolio of 33 hotels, operating in the three and four star sector
. It is the sixth largest hotel chain in the UK by bedroom numbers (10,000), but the largest hotel chain in London.
in 1965, to combine its own traditional legacy hotels with purpose built hotels. Mount Charlotte Investments bought thirty four Thistle hotels from S&N, and acquired the Thistle brand name for £645m in November 1989. Debt acquired from the transaction surrogated Mount Charlotte Investments with no choice but to be taken over by Brierley Investments of New Zealand
for £664m in 1990.
In 1997, the company floated on the Stock Exchange, to become Thistle Hotels plc, valued at £620m. In September 1998, it sold 30 provincial hotels to Grace Hotels (owned by the Lehman Brothers
investment bank) for £62.7m, becoming managed by Peel Hotels
. In July 1999, it sold the Charles Dickens
Hotel in London to the Ryan Hotel Group for £20m. In June 2002, it initially sold 37 of its hotels to Orb Estates of Jersey
for £598m, continuing to manage the properties, but the hotels are eventually sold to Atlantic Hotels for £700m and being operated under the Thistle name. In June 2003, the company was bought for £627m by BIL International, a private equity company based in Singapore
owned by the Hong Leong Group
and the majority shareholder since 1990. BIL is actually, for accountancy purposes, registered in Bermuda
. Thistle Hotels was delisted from the London Stock Exchange
. In 2004, it opened its Cumberland Hotel in London after a £95 million renovation, which operated under the Guoman deluxe brand. In May 2005, it sold six hotels to the Topland Group under a leaseback
deal for £185m.
It used to be based on The Calls in Leeds
, then moved to Uxbridge
.
In 2004, budget hotel company Travelodge
bought two Thistle Hotels in London
.
Thistle Hotels is currently under going a re-branding of £100 million in order to maintain consistency across the group.
Thistle Cardiff the Parc has now re-opened after being closed for 17 months due to fire and has been refurbished throughout
From 1993 until 1996 Thistle Hotels sponsored Leeds United
.
In April 2009 and after a £19 Million pound refurbishment, the Royal Horseguards received official 5-star accreditation and was the first hotel in the Guoman portfolio to receive this accolade.
Star (classification)
Stars are often used as symbols for classification purposes. They are used by reviewers for ranking things such as movies, TV shows, restaurants, and hotels. For example, one to five stars is commonly employed to categorize hotels.-Restaurant ratings:...
. It is the sixth largest hotel chain in the UK by bedroom numbers (10,000), but the largest hotel chain in London.
History
It was set up by Scottish & NewcastleScottish & Newcastle
Scottish & Newcastle plc was a "long alcoholic drinks" company with positions in 15 countries, including UK, France and Russia. It was headquartered in Edinburgh, Scotland, UK. In the last 20 years, S&N expanded significantly from its home base to become an international business with beer...
in 1965, to combine its own traditional legacy hotels with purpose built hotels. Mount Charlotte Investments bought thirty four Thistle hotels from S&N, and acquired the Thistle brand name for £645m in November 1989. Debt acquired from the transaction surrogated Mount Charlotte Investments with no choice but to be taken over by Brierley Investments of New Zealand
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
for £664m in 1990.
In 1997, the company floated on the Stock Exchange, to become Thistle Hotels plc, valued at £620m. In September 1998, it sold 30 provincial hotels to Grace Hotels (owned by the Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
investment bank) for £62.7m, becoming managed by Peel Hotels
Peel Hotels
Peel Hotels plc is a hotel company operating in the United Kingdom. It operates eight hotels and is listed on the AIM.The company was founded in 1998 by Robert Peel, when he bought the Bull Hotel in Peterborough...
. In July 1999, it sold the Charles Dickens
Charles Dickens
Charles John Huffam Dickens was an English novelist, generally considered the greatest of the Victorian period. Dickens enjoyed a wider popularity and fame than had any previous author during his lifetime, and he remains popular, having been responsible for some of English literature's most iconic...
Hotel in London to the Ryan Hotel Group for £20m. In June 2002, it initially sold 37 of its hotels to Orb Estates of Jersey
Jersey
Jersey, officially the Bailiwick of Jersey is a British Crown Dependency off the coast of Normandy, France. As well as the island of Jersey itself, the bailiwick includes two groups of small islands that are no longer permanently inhabited, the Minquiers and Écréhous, and the Pierres de Lecq and...
for £598m, continuing to manage the properties, but the hotels are eventually sold to Atlantic Hotels for £700m and being operated under the Thistle name. In June 2003, the company was bought for £627m by BIL International, a private equity company based in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
owned by the Hong Leong Group
Hong Leong Group
Hong Leong Group is a conglomerate based in Malaysia. Founded as a trading company in 1963 by Tan Sri Quek Leng Chan, the company controls 14 listed companies involved in the financial services, manufacturing, distribution, property and infrastructure development...
and the majority shareholder since 1990. BIL is actually, for accountancy purposes, registered in Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
. Thistle Hotels was delisted from the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
. In 2004, it opened its Cumberland Hotel in London after a £95 million renovation, which operated under the Guoman deluxe brand. In May 2005, it sold six hotels to the Topland Group under a leaseback
Leaseback
Leaseback, short for sale-and-leaseback, is a financial transaction, where one sells an asset and leases it back for the long-term; therefore, one continues to be able to use the asset but no longer owns it...
deal for £185m.
It used to be based on The Calls in Leeds
Leeds
Leeds is a city and metropolitan borough in West Yorkshire, England. In 2001 Leeds' main urban subdivision had a population of 443,247, while the entire city has a population of 798,800 , making it the 30th-most populous city in the European Union.Leeds is the cultural, financial and commercial...
, then moved to Uxbridge
Uxbridge
Uxbridge is a large town located in north west London, England and is the administrative headquarters of the London Borough of Hillingdon. It forms part of the ceremonial county of Greater London. It is located west-northwest of Charing Cross and is one of the major metropolitan centres...
.
In 2004, budget hotel company Travelodge
Travelodge UK
Travelodge Hotels Limited is a private company operating in the hotels and hospitality industry throughout the United Kingdom. Branded simply as Travelodge or Travelodge UK, it is the second largest in the budget hotel sector and third biggest hotel chain in the UK by number of bedrooms...
bought two Thistle Hotels in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
.
Thistle Hotels is currently under going a re-branding of £100 million in order to maintain consistency across the group.
Thistle Cardiff the Parc has now re-opened after being closed for 17 months due to fire and has been refurbished throughout
From 1993 until 1996 Thistle Hotels sponsored Leeds United
Leeds United A.F.C.
Leeds United Association Football Club are an English professional association football club based in Beeston, Leeds, West Yorkshire, who play in the Football League Championship, the second tier of the English football league system...
.
Guoman brand
Thistle operates four luxury hotels in London under this brand, namely the Tower Hotel, the Cumberland Hotel, the Charing Cross and the Royal Horseguards.In April 2009 and after a £19 Million pound refurbishment, the Royal Horseguards received official 5-star accreditation and was the first hotel in the Guoman portfolio to receive this accolade.