Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Staff at Torquay's Palace lose jobs as hotel closes for redevelopment

05 July 2017 by
Staff at Torquay's Palace lose jobs as hotel closes for redevelopment

The Palace hotel in Torquay will be closing at the end of the month for an unspecified time during an extensive redevelopment, with all staff being made redundant.

It was announced that Singapore-based property and investment company the Fragrance Group acquired the four-AA-star, 141-bedroom hotel for an undisclosed sum off a guide price of more than £10m earlier this week.

Devon Live has reported the number of staff as 80 and that several members of staff also live in the hotel.

The directors of Torquay Palace, which operates the hotel, confirmed they have exchanged contracts on the sale of the property, and released a statement which read: "The purchasers have significant plans to redevelop the property and, as such, the hotel will be closing at the end of July to allow for this.

"In view of this, the directors will be closing the business and will therefore be undertaking a period of collective redundancy consultation with all staff. All guests who have bookings for the period beyond 31st July 2017 will be contacted and we are seeking to assist with alternative venues where possible. We apologise for any inconvenience that this may cause and, in particular, are very sorry to be consulting with staff regarding redundancy, many of whom have loyally served the business for decades.

"Our priority at this time is ensuring that staff and guests are properly consulted, we will therefore not be making any further statements at this time."

The hotel is the second to be bought in the UK by Fragrance, founded by Koh Wee Meng, one of Singapore's richest businessmen, following the acquisition in February of the four-AA-star, 180-bedroom Imperial hotel in Blackpool, for £12.8m.

Singapore company scoops up Torquay's Palace hotel >>

Imperial hotel in Blackpool to be sold to Singapore company for £12.8m >>

Brownsword Hotel Group snaps up Imperial hotel Torquay >>

More than £10m sought for sale of Palace hotel, Torquay >>

Videos from The Caterer archives

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking