The Fragrance Group has revealed plans to demolish and redevelop the 46-bedroom Park hotel in Paignton it acquired last year.
The Singapore-based property and investment company has applied to Torbay Council for planning permission to redevelop the currently closed property in Devon as a three-star, 161-bedroom hotel with eight accessible rooms, a restaurant and a spa.
The group described the building as "outdated", with an "inefficient" layout and, with some rooms less than 10msq, not meeting modern visitors' expectations for space.
It added that much of the building is not lift accessible and the ground floor, including several bedrooms, is below the level needed to accommodate flood risk and climate change.
Fragrance, founded by Koh Wee Meng, one of Singapore's richest businessmen, kick started a string of UK acquisitions in February when it bought the four-AA-star, 180-bedroom Imperial hotel in Blackpool for £12.8m.
It has since gone on to acquire the Townhouse hotel in Manchester for £12.5m, the Crown hotel in Harrogate off a guide price of £8.5m and the Lyndene hotel in Blackpool off a guide price of £6.5m. It also has two other properties in Devon: the 141-bedroom Palace and 50-bedroom Corbyn Head hotels, both in Torquay.