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Bannatyne expands portfolio

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The Bannatyne Group has announced plans to invest £16m in a portfolio of new hotels, spas and health clubs during 2008.

Plans include the development of the 50-bedroom Hotel Bannatyne costing £3m in Thorpe St Andrews, Norwich, which will be built adjacent to Bannatyne’s Health Club.

Two existing hotels will also be extended, with £1.3m being invested in the Beauport Park Hotel in Hastings – acquired by the group for £4m in 2007 – to provide a further 16 bedrooms and a new bar, while the Hotel Bannatyne in Durham will benefit from a 23-bedroom extension costing £1.2m.

In addition, £1.5m will be spent on two new Sensory Spas in Darlington and Hastings and £8m has been allocated to develop two new health clubs.

Duncan Bannatyne said: “The solid foundations of the Bannatyne Group have been built on organic growth. After a period of acquisition and integration it is pleasing to return to our strength for creating new leisure opportunities.

“Following the awarding of the relevant planning permissions we can start to roll out our investment plans from the start of the year.

“The position we have established for ourselves in the health club sector proves that there is always room to grow by moving into towns and cities where customers demand high-quality service and facilities.”

An early booking discount policy has also been introduced to encourage customers to book early online.

“Affordability is the key in the current economic climate,” he added.

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The Bannatyne Group has announced plans to invest £16m in a portfolio of new hotels, spas and health clubs during 2008.
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