Project Scope

In early 2025, Caparo took the decision on Horwath HTL’s advice to transition the asset to third-party management, with the aim of strengthening operational performance while maintaining trading continuity ahead of the critical summer season. The process had to move quickly but deliver a robust outcome, balancing urgency with careful commercial judgement.

Horwath HTL worked closely with Caparo to shape and manage the process. The team supported the development of a clear brief, identified suitable candidates, and coordinated a selective process to ensure operators responded on comparable and commercially relevant terms. Our evaluation focused on transition experience and readiness, financial transparency, and the appointment of a locally experienced management team, factors that were critical given the time-sensitive nature of the handover. Throughout the process, we maintained alignment with the client’s longer-term strategy for the hotel and provided hands-on support through to operator appointment and mobilisation.

On the operator selection process, Ray Griffin, Director of Caparo Hotels, said:

“We’ve worked with Horwath HTL over a number of years on the Osborne Hotel, including an earlier strategic study exploring the potential for expansion and repositioning. That initial work provided valuable insight not just into development potential, but into some of the underlying challenges facing the hotel.

Building on that work, we appointed Horwath HTL to support the selection and appointment of a third-party operator. The Osborne is a long-held family asset, and this was a sensitive transition with a compressed timeline—requiring continuity of trading through peak season while establishing the right operating structure which delivered in the short-term and provided flexibility for a future option appraisal.

We valued the Horwath HTL team’s ability to maintain momentum throughout a very tight process. They understood the timing and helped us move from first conversations to full mobilisation in a matter of weeks—without compromising on quality or oversight. The process was pragmatic, well structured, and ultimately delivered exactly what we needed.”

Andy Townsend, CEO of Legacy Hotels & Resorts, added:

“We were first approached by Joe Stather, Managing Director at Horwath HTL UK, in mid-April 2025. Acting on behalf of their client, a London-based family office, Joe invited us to take part in a carefully structured operator selection process for the Osborne Hotel in Torquay – a much-loved, long-held family asset.

The brief was well-defined and commercially sound: the client sought a proven hotel operator to manage a smooth and timely transition ahead of the high summer trading period. This included preparing a clear, deliverable part-year budget through to the end of 2025, alongside the initial development of a refreshed business strategy and budget for 2026, for the client’s review and input.

From the outset, the Horwath HTL team – including Joe, Rachel, and Malcolm – impressed us with their clarity, professionalism, and solution-driven approach. Communications were always timely, focused, and constructive, with the team staying closely aligned to the core objectives of both the client and the asset.

It was genuinely encouraging to experience an operator selection process that was so well-targeted, pragmatic, and efficient – with a keen understanding of the urgency involved and the operational realities of a mid-season deployment. Thanks to this shared focus and excellent collaboration, we were able to assume full operational responsibility for the hotel within two months of our initial engagement.

The entire process reflected well on Horwath HTL’s deep understanding of both client and operator priorities, and their commitment to achieving a positive and practical outcome for all parties involved.”

Project Location

Torbay, Devon, United Kingdom