Dawnay Shore Hotels, a new company established by Dawnay, Day and Shore Capital, has acquired the Paramount chain of hotels from Alchemy Partners for £215m.

The Paramount chain, which consists of 13 regional, 4-star hotels in the UK, includes the Carlton Hotel, Edinburgh; the Oxford Hotel, Oxford; the Majestic Hotel, Harrogate, the Imperial Hotel, Torquay and the Marine Hotel, Troon (pictured).

Financing for the deal came from private equity raised by Shore Capital and senior debt from Anglo Irish Bank.

Dawnay Shore Hotels has said it intends to make further acquisitions which will complement the Paramount chain and is currently in negotiations regarding further properties.