Strategic Review at Corus Hotels

We would like to inform you that Corus Hotels Limited (‘the Company’) has entered into an agreement to sell The Old Golf House in Huddersfield and The Imperial Crown Hotel in Halifax to Northern Powerhouse Developments Limited. The completion of the sales is expected to be 31 January 2018. During this transition, the business and the operation of these two hotels will remain as usual. We are confident that the teams at the respective hotels will continue to provide the service to the required standard and attention.

After reviewing the entire hotel portfolio and the future strategic business, the Company decided to rationalise its operation without these two hotels.

With the divestment, the Company is moving ahead with its plans to:
• Refurbish 78-bedroom Mews block of the Corus Hyde Park Hotel, London
• Refurbish 17 rooms and the public areas in the main building and landscaping at the Chace Hotel in Coventry.
• Significant investment is in place to refurbish the public area and 32 executive bedrooms in the new block of Burnham Beeches Hotel.
• After completion of the investment plan in 2018, Burnham Beeches Hotel will be added to the Laura Ashley hotel collection.
• The Regency Hotel at Solihull completed its 1st phase of improvement in its landscape including a new exterior courtyard and also the incorporation of a new Laura Ashley Tea Room.

Further plans are being considered for The Regency.

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