[3] Two years later, in 1994, a former operations director of the chain, Tony Troy, led a management buyout for £68 million by Bridgepoint Capital.

[4] In 2001, Principal Hotels was sold to Nomura International Plc for £255 million, with Troy staying on as managing director.

The company was reconstituted in 2004, when Le Méridien faced financial difficulties, and Troy took control back of the London, Manchester, York and Leeds properties.

[6] In 2006, the chain was sold by the Royal Bank of Scotland to the private equity firm Permira.

[13] In September 2017, De Vere relaunched with 22 locations[14][15] and announced the sale of 20 non-core hotels.