UK-based Chardon Management has been acquired by Interstate Hotels & Resorts.
Chardon’s hotels will now switch management to Interstate, boosting the latter’s UK portfolio to 47 either open or under development.
Its entry into the UK will be led by Interstate Europe’s managing director for the UK Robert Crook and Interstate’s executive vice president of international operations Ken McLaren along with Chardon’s executives and associates.
Chardon’s portfolio includes 32 hotels under various brands such as Holiday Inn, Holiday Inn Express, Hotel Indigo, Best Western, ibis Styles and Choice.
“With this acquisition, we believe Interstate is now established as the preeminent hotel management company in the UK and Irish markets, offering institutional and private investors a world class hotel management platform,” said Jim Abrahamson, chief executive officer of Interstate Hotels & Resorts. “As our second UK acquisition this year, we will leverage Interstate’s on-the-ground operations and tangible experience in the country to successfully transition and operate this new portfolio, generating increased profitability for owners, while maximising asset values.”