Lyric sell-off paves the way for expansion

THE owners of Manchester-based Lyric Hotels are planning to expand once more after selling off seven properties last year.

Lyric has paid off its original venture capitalist backers, leaving the company wholly owned by chief executive David Seton and finance director Lance Byrne.

The pair are now looking to expand the group through acquisitions and management contracts. Byrne said the company already had some funds available for purchases and could raise more money for a larger deal.