The Hilton Hotel, acquired by the Sefton Group, is to be replaced by what is described as 'the first purpose-built four-star-plus hotel in Douglas for 50 years'.
Graham Ferguson Lacey, Executive Chairman of the Sefton Group, says that now the Group has completed the acquisition of the Gala Hilton, 'we will proceed in earnest with the preparation of a master plan for the 6.3-acre freehold property we now own'.
Lloyds TSB Corporate Banking has funded the series of multi-million-pound deals for the Sefton Group, including the Palace Cinema, Sefton Express Hotel, Castle Mona Hotel and Gala Hilton Hotel.
It says the purchases result in the Sefton Group becoming the largest premier hotel company on the Isle of Man
On Mandate this morning, Treasury Minister and Ramsey MHK, Allan Bell said developments, shortly to be announced in Ramsey, were the tip of the iceberg in terms of renewed interest in the northern town, which has suffered two major employment blows, Strix and Charterhouse, in recent months: (audio file attached)
Picture: Treasury Minister and Ramsey MHK, Allan Bell.
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