Bliss Investment Partners has acquired full ownership of the Ramada Plaza Southport, purchasing the remaining 75% of shares for £1.75m, marking its first hotel acquisition.
Robert Agsteribbe, one of Bliss' managing partners, helped set up the 133-bedroom hotel in 2008 and was a minority shareholder in Even Southport, which previously owned the hotel.
Agsteribbe and co-manager Daniel Broch, founder of Everyman Cinemas, bought out the rest of the shareholders last month With the backing of a £750,000 loan with OakNorth Bank, increasing their ownership from 25% to 100%.
The hotel has the Marine Brasserie restaurant, a bar, gym, conference facilities for up to 300 guests, and underground car parking. It is located in the heart of the Southport Waterfront Development, adjacent to the town's theatre and convention centre.
Broch said they felt there was room in the region for a hotel that is both accessible, but also offers a "bespoke customer experience", and there are plans to expand the hotel's F&B offering and function capacity. Agsteribbe was formerly head of the hotel and leisure department at commercial estate agent Chesterton and has experience working with brands such as Intercontinental Hotel Group and Whitbread, and hotels such as the Leonard in London.
Deepesh Thakrar, debt finance director at OakNorth Bank, added: "Robert and Daniel's experience, coupled with the strong management team, and the hotel's outstanding reputation, put it in a prime position for continued success in the future."