Times12 Sep 2014 12:45
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Fears over the future of historic hotels including the 16th century Lygon Arms, in the Cotswolds, and the Majestic in Harrogate have been dispelled following a restructuring led by the US investor Lone Star Funds.
The 21 hotels that make up The Hotel Collection, which recently changed its name from Puma Hotels, are understood to have shed at least a third of their £350 million debt burden after emerging from a pre-pack administration.
Lone Star, which recently bought the debt from Irish Bank Resolution Corporation, has appointed Grant Hearn, the former Travelodge chief executive, as chairman and is planning to