North East business Ailantus Hotels Group has bought The Holiday Inn Newcastle Gosforth Park for a seven-figure sum.
The group, which also runs the likes of the George Washington Hotel in Usworth, Washington, and the Quality Hotel in Boldon, is completing an ongoing refurbishment programme there, after which it will create 15 new jobs across the business, including in the leisure club, housekeeping and food and drink.
This will boost headcount to over 90 full and part-time staff, providing valued jobs in the sector as it emerges from recession.
Established around 40 years ago, the Holiday Inn branch has remained popular with business travellers, tourists visiting the Northumberland coast and people travelling from Scotland.
The deal will see the continuation of a modernisation programme, which will include all the hotel’s 154 rooms as well as its leisure club.
The hotel’s sale comes after a £200,000 investment to the lounge and restaurant areas.
The first of the banqueting suites has likewise been renovated and work has been done to make the Ridley Suite suited for smaller weddings or meetings.
Work will continue with the construction of an outdoor terrace and further investment in other banquet rooms will follow.
The hotel becomes the first and only Holiday Inn to be owned by Ailantus,
General manager Norrie Oswald said: “Our new owners are local, so they understand the area and the people doing the work here are local.
“They are investing and that’s what the hotel has needed.
“They are taking a fresh approach, which is very refreshing.”
He added that it was an “exciting time for the hotel as a business.”
“Economically speaking, I think the new owners have bought it at a great time,” he said.
“They are ready to invest and are doing that at a time when business is becoming better.
“Having the owners close to hand is also a good thing.”