THE HISTORIC Falcon Hotel in the centre of Stratford is set for a new lease of life.
The Chapel Street hotel has been bought for an undisclosed sum by St James’s Hotels from the administrators of Noblelarge Limited, Grant Thornton.
The four star hotel, with a frontage dating back to the late 15th century, has 83 bedrooms, seven meeting rooms , two restaurants, two bars and parking for 120 cars.
The new owners plan to invest up to £6 million to completely refurbish the hotel, including the installation of air conditioning in all bedrooms, during the course of next year.
St James’s Hotels – which takes over from Legacy Hotels – intends to retain all the current management and staff, and expects to hire further staff on completion of the refurbishment.
Shaun Robinson, managing director of St James’s, said: “We are very pleased to have been able to acquire The Falcon which is a part of Stratford’s heritage. It has suffered from a lack of capital investment over the past few years but, with a combination of some significant refurbishment, rebranding and committed management, we are confident of returning it to its former glory while providing up to date accommodation for our guests”.
St James’s was established by the Somerston Group earlier this year and acquired the Forestdale portfolio of fourteen unbranded, three star hotels across England, in March.
It is currently investing in the extensive refurbishment of a number of the hoteIs and is in the process of selling a number of non-core hotels for alternative uses, particularly healthcare related.