One of Bradford’s flagship hotels is to have a new owner who has pledged significant investment to upgrade it into a luxury four-star venue.
The Hilton hotel in Norfolk Gardens opposite City Hall is being bought by London investment group Mastcraft for an undisclosed sum.
One leading commercial property agent told the Telegraph & Argus that the asking price was understood to be about £2 million.
The seven storey, 121-bedroom venue has 14 meeting rooms and can cater for events of up to 700 people.
Over the past four years Mastcraft has acquired nine hotels but this deal will be its first in Yorkshire.
Director Girish Sanger said Bradford had been a key target for its expansion programme because of the business potential offered through the city centre regeneration, boosted by construction of the Westfield development.
He said: “We think the Hilton is a great asset and Bradford city centre and local area offers tremendous opportunities.
“All the current Hilton staff will be transferred over to us and once the sale has been completed we will be taking a close look at the venue with a view to making significant investment in creating a prestigious luxury four-star hotel.
“It’s early days yet but we are excited about acquiring the Hilton Bradford and the prospects for the future.”
A spokesman for Hilton Worldwide said: “Having operated Hilton Bradford for more than 40 years, Hilton Worldwide has taken the decision to sell the property to Mastcraft.
“We expect the new owner to undertake the management of the property from completion, and the hotel will continue welcoming guests under the Hilton Hotels & Resorts brand until that point.
“We have taken the decision to complete the sale in order to concentrate on our wider portfolio in Yorkshire.”
News of the sale and potential investment has been welcomed, including by Gary Peacock, general manager of the rival Midland hotel – which is also looking to gain accreditation as a four-star venue.
He said: “This deal can only be good for the market and goes some way to countering criticism of under investment in Bradford’s hotel scene. It raises the game in the city and is a welcome sign of confidence in the city.”
Mike Cartwright, policy executive at Bradford Chamber of Commerce, said: The investment will give a boost to the sector and to Bradford generally.”
Councillor David Green, leader of Bradford Council, said: “This is good news of positive investment in the city.”