NEW owners are set to take over The Northfield Hotel in Minehead.
The venue is one of four purchased by the Fairtree Hospitality Real Estate Private Equity Fund in the South West after securing £16m worth of financing from Natwest.
The fund, managed by international asset management company Fairtree Capital, has bought the hotels and Providence Hospitality, a hospitality management company, has secured the contracts to manage the hotels.
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Joe Bester, director of Providence Hospitality, said: “Providence prides itself on the highest quality of customer care, and we are keen to maintain our reputation in these new locations.”
Kobus Nel, director of Fairtree Capital, said: “Funding from NatWest has allowed us to expand our reach across the South West, and marks the start of an exciting journey.”
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