UKFast chief executive Lawrence Jones has signed a £15m takeover deal for Town and Field, the company that owns the first hotel ever built at exclusive Swiss ski resort Verbier.
As reported by the Manchester Evening News, Jones (pictured) has completed a deal with a consortium of private investors to take over the plush 1930s Le Farinet ski hotel and bar which "is often frequented" by the likes of U2's Bono, Prince Harry, and the Duke and Duchess of Cambridge.
"A few years ago we acquired a hotel in Snowdonia, North Wales and since then we've had every person from the company through the doors of our Castell Cidwm lake house. It's become a key part of our induction process and an invaluable place for team events throughout the year. It was clear that it was time to expand this concept," Jones told the local broadsheet.
The deal includes refurbishment as well as acquisition costs.
Top UKFast performers have been flown to Verbier in the past, he said, but the company had grown fast so the cost was becoming prohibitive, at least in part prompting the purchase of Town and Field, the report said.
"We understand the importance of investing in our team," Jones was quoted as saying.
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