A hotel in Southport has been sold to a Merseyside entrepreneur for a six-figure sum, after the business was transformed in a £300k investment project by OneCall Hospitality.
The Bold Hotel on Lord Street has been acquired by AM Investments Ltd, which is headed up by businessman Andrew Mikhail.
The move follows the successful business turnaround led by hotel management specialists OneCall Hospitality, who were appointed in 2012 by West Register, which purchased the business from administration.
The Onecall team has since overseen a £300k improvement programme at the 23-bedroom hotel, which has included a refurbishment of the ground floor to create a new function suite, as well as an open plan dining, bar and snug area.
Mark Chambers, director of Onecall, said: “The Bold Hotel is one of the best known hotels in Southport and was a well-respected amenity but making a loss at the time of our appointment. We have worked with the loyal staff team and it is now profitable and well-managed establishment.”
Mikhail also owns the Eccleston Arms Bar and Grill in St Helens, which he acquired earlier this year and has renovated to provide dining and accommodation facilities.