Rigby Group confirms multi million acquisition of Bovey Castle
Rigby Group Plc has announced the acquisition of the luxury Bovey Castle hotel and estate on Dartmoor in Devon–taking its recent investment in South West luxury hotels to £30 million.
The family-owned business, founded by one of the UK’s most successful entrepreneurs Sir Peter Rigby, said the 275-acre estate, complete with 64 bedroom mansion hotel, 14 lodges and championship golf course, would become the flagship hotel within the Group’s growing Eden Hotel Collection.
The acquisition follows the recent announcement of a planned £13.5 million investment by Rigby Group in Salcombe, where it has acquired the Tides Reach Hotel and intends to create a brand new 50-bed luxury waterfront boutique hotel on the site, opening in 2016 and creating 100 jobs.
Rigby Group said it would invest £2 million immediately on improvements and renovations at Bovey Castle.
It already owns the Buckland Tout-Saints Hotel in Kingsbridge in South Devon, The Mount Somerset Hotel and Spa in Somerset and five other hotels across the Cotswolds and Midlands–nine hotels in all.
Mark Chambers, Managing Director of the Eden Hotel Collection, said: “The Bovey Castle has become a byword for true English luxury and we see tremendous potential to build on an exceptional brand in an exceptional location as we grow the Eden Hotel Collection into the South West’s leading luxury boutique hotel operator.
“This acquisition takes to nine the number of hotels in the group, offering around 300 rooms across a hand-picked portfolio of unique venues in fantastic surroundings”
The Bovey Castle deal and Tides Reach are the latest significant investments in the South West for Rigby Group and follows its acquisition last year of Exeter International Airport and British International Helicopters, which has a base in Newquay in Cornwall.
Steve Rigby, Chief Operating Officer for Rigby Group said: “The South West has quickly become a key part of Rigby Group and we see great opportunities across several of our business streams in the region, not least boutique hotels and aviation, and we are planning significant further investment to cement our position as leading providers in these areas.”