De Vere Group

This group was founded in 2005 after the £325m acquisition of Rentokil’s venues and conference facilities and £1.1 billlion acquisition of the De Vere hotel chain. It now owns Malmaison, Hotel du Vin, the Greens chain of fitness centres and the De Vere chain, which includes 13 luxury hotels, 22 Village and 30 Venue sites ranging from The Grand Brighton to Edinburgh’s Barony Castle. In March, Lloyds Banking Group confirmed that it had completed a refinancing through an estimated £650m debt-for-equity swap. Under chief executive Richard Balfour-Lynn, profits increased to £31.2m in 2009, despite a drop in sales to £465.1m.

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Company details
Year2010
Rank18
CompanyDe Vere Group
ActivityHotel operator
LocationCentral London
Sales £m*465.1
Operating profit £m*31.2
Main shareholdersLloyds Banking Group (30%), management (70%)
Staff9,227
Founded2006
Websitewww.devere.co.uk

If applicable:

* supplied by Company   † annualised figure   ‡  profit = ebitda