HF Holidays completes hotel purchase

HF Holidays has completed the purchase of the Longmynd Hotel in the Shropshire Hills, it has been confirmed.

Reports from the Shropshire Star confirmed that the sale of the hotel by the Chapman family to HF Holidays was completed last week on a five-year lease purchase agreement. It is understood that the deal was worth several million, although the last known figure – the market price in October – was £1.75 million.

Following the completed deal, the mayor of the local town of Church Stretton, Bob Welch, is calling on the purchasers to work with the council in order to promote tourism in the region.

He told the paper: "We are delighted to hear that HF Holidays have acquired the Longmynd Hotel. They have ambitious plans to promote tourism in the area and hopefully the town council and traders will be happy to work closely with them."

Mr Welch added that the council is "delighted" the firm has taken a local approach and committed to working with the community in order to boost the area's economy.

Prior to the sale, the iconic hotel had been in the Chapman family since 1977. With such a long history, it appears that several clauses were built into the deal, including the requirement that the staff will be kept on.