Sanguine Hospitality Management Group has announced a £100m investment fund to develop 16 hotels.
The company - which already owns and operates eight hotels and restaurants through licensed agreements with Wyndham, InterContinental, Hilton and Marco Pierre White - is raising the money through Trident, a distressed hotel fund based in Guernsey.
"These are very exciting times for us as we hope to create more than 500 new jobs across the new hotels," said Nick Taplin, managing director of Sanguine.
"Some of the hotels are new properties, which we are building through our own construction company, Denizen Contracts. The rest we are developing in former office blocks in prime city-centre sites. Current property prices are allowing us to develop at a fast pace."
Sanguine currently owns and operates two Doubletree by Hilton hotels in Chester and Bristol, a Days hotel in Chester, a Holiday Inn in Winchester, two Marco Pierre White restaurants in Chester and Aughton, Lancashire, and an exclusive wedding and events venue in Augton.
New hotels under development include Hotel Indigo Liverpool, Hotel Indigo Newcastle, Days Inn Liverpool, and two Holiday Inn Express properties in Hoylake and Southport.
Five Marco Pierre White branded restaurants are also due to be launched by Sanguine, with the next opening in September in Bristol within a newly developed Doubtree by Hilton. The hotel is currently being extended to a 132-bedroom hotel and converted from what was formerly the 60-bedroom Cadbury House - Sanguine's first hotel.
Taplin, who formed Sanguine in 2006 with the chairman Simon Matthews-Williams, and director Paul Bolton, said the company was currently looking to recruit an operations director to help expand the group.
By Janet Harmer
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