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Latest News

TDA welcomes hotel investment and helps employees find work

12th July 2017

Categories: Latest News

The new owners of Torquay's Palace Hotel have declared they plan to invest millions of pounds over the next few years.

The historic 4-star Palace Hotel with 141 bedrooms, its own golf course with swimming pools and tennis courts set in 19 acres, has been sold to Singapore based Fragrance Group officially for an undisclosed sum.

Torquay Palace Limited, represented by Savills, confirmed the sale to the Singapore based Fragrance Group. It has been reported that the hotel was bought for £7.5m.

A Torbay Council spokesman said: "We welcome this investment into Torbay, especially as it supports the achievement of our ambition for a stronger economy and the continued growth of the English Riviera's resurgent tourism sector.

"We work with a wide range of partners to ensure that the quality of the tourism offer is continually improving and we look forward to receiving detailed proposals from Fragrance Group for the Palace Hotel.

 

Shortly afterwards it was announced that the hotel is to close at the end of July and some 80 staff laid off ahead of a 'significant redevelopment.'

A group spokesman said: "Fragrance Group from Singapore are very pleased to confirm their purchase of The Palace Hotel in Torquay. The group founded by Koh Wee Meng has purchased the property as a closed hotel from the current owners.

"They have exciting plans to redevelop the hotel and invest millions of pounds over the next few years in the project employing local architects and consultants.

"During the construction phase there will be construction jobs for local companies. Once completed the new hotel will offer great opportunities for a significant number of permanent jobs."

A Torbay Council spokesman said: "Representatives from the council and the TDA met with the Fragrance Group ahead of the exchange of contracts for the Palace Hotel.

"We heard in this meeting the objectives from Fragrance for their purchase and proposed investment in the Palace Hotel.

"While we are waiting for these proposals we are seeking confirmation of the closure and working with all concerned to offer appropriate support to staff who are at risk of redundancy."

 

Within days of the redundancy news, TDA worked in partnership with Torquay JCP team and the English Riviera BID Company to co-ordinate a communications to all 1,025 tourism BID businesses asking them to get in touch with any vacancies they have.

A list of 35 employers came forward and was shared with hotel staff at support sessions conducted by the JCP team. This helped the 80 employees find new employment.

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