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Thistle Hotels

Thistle Hotels is to invest £150m in the refurbishment of its Guoman luxury hotels in the UK over the next three years, including £20m for the Royal Horse Guards hotel in London.

Thistle Hotels is to sell its 70-room hotel in Poole to Orb Estates, as part of a £30m redevelopment of the town's quayside area that will include a marina, luxury apartments and a new hotel with up to 150 rooms.

Thistle Hotels is to spend up to £80m modernising 1,800 hotel rooms this year, and also plans to open more health and fitness clubs.

Thistle Hotels has sold 30 provincial hotels to the Lehman Brothers investment bank for £66m, and they will now be run by Peel Holdings.