Vaux Group has sold five three-star Swallow Hotels comprising 385 bedrooms to Chasley Lifestyle and has also completed the sale of all 38 nursing homes to Highfield Group, for a total of pounds 48m. The company said the proceeds would be invested in hotels, pubs and brewing. The sale will also enable Swallow to proceed with a project to install air conditioning in a significant proportion of the rooms in each hotel by September 1999. New pubs are either under construction or planned in the city centres of Nottingham, Sheffield, Middlesborough and Halifax.
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Vaux sell hotels and nursing homes