The 100-bedroom Royal Hotel in Woolacombe Devon has been acquired by Northern Powerhouse Developments (NPD) and will now be rebranded.
The property, which is set in 2.5 acres on the approach to the beaches of Woolacombe, will be renamed the Atlantic Bay Hotel and undergo a refurbishment which will see its bedrooms, lounge areas, conference facilities, restaurant and leisure facilities upgraded.
The acquisition marks Northern Powerhouse Developments’ 11th in the UK as the company bids to establish itself in the market.
Richard Lewis, chief executive of NPD Hotels, also promised that there were more acquisitions ‘soon to be announced’.
He said: “Over the coming months we plan to undertake a comprehensive scheme of renovation and refurbishment to breathe new life into what is a fantastic property in a superb location.”
Michael Easton, of JLL in Exeter, who handled the sale, said: “A hotel of this size is rarely available in the West Country and we are delighted it has been bought by a company looking to make significant and necessary investment to protect its future for many years to come.
“The sale was agreed after a short period of open marketing and we worked with both parties to set out a workable timetable to completion. This resulted in our clients enjoying a final summer season and the new owners having scope to make improvements in the off-season.”