A popular hotel is to undergo a £3.2 million revamp to turn it into a Holiday Inn.
The overhaul of The Derbyshire Hotel, off Junction 28 of the M1 at South Normanton, comes after the 157-bedroom property was sold to new owners in a £10 million deal.
The property has been bought by Serani Hotels from US-based Starwood Capital. The deal represents the first hotel acquisition by Serani, which was founded in May by Ravi Ruparelia and Rajiv Nathwani and is based in Pinner, Middlesex.
The hotel currently boasts a restaurant and bar, leisure club with pool, gym and treatment rooms and 14 event spaces which cater for weddings, celebrations and conferences for up to 250 guests.
The Derbyshire Hotel has changed hands in a deal worth £10 million
The four-star establishment had previously operated under the Principal Hotel Company’s De Vere collection.
But now, following its acquisition, Serani has appointed hotel management and consultancy company Countrywide Hotels to manage and develop the hotel.
Over the next 12 months, it will oversee the refurbishment of the property, which will include upgrading the existing bedrooms and communal areas.
There are also plans to create new bedrooms, a signature restaurant and introduce a Starbucks lounge within a new open lobby area.
The hotel is close to Junction 28 of the M1 motorway
After the work is completed, the hotel will be re-branded as a Holiday Inn.
Mr Ruparelia said: “We’re excited for The Derbyshire project and will be conducting a full refurbishment to ensure the hotel becomes a real showpiece for the local area.”
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Mr Nathwani said: “We’re delighted to have completed the purchase of The Derbyshire and are excited to share the journey of rebranding as a Holiday Inn with Countrywide Hotels.
“We’re enthusiastic about our plans for a full-scale refurbishment to bring the hotel to the four-star standard it deserves.”
After sealing the deal for The Derbyshire Hotel, Mr Ruparelia and Mr Nathwani added that they were eyeing further acquisitions in 2018.
Source: Derby Telegraph