Torquay Hotel Purchase Leads To Staff Redundancies

Torquay’s Palace Hotel will close at the end of the month, and all the staff will be made redundant while it’s refurbished for an undisclosed period of time. This follows the announcement that Singapore-based investment company the Fragrance Group had acquired the four-AA-star, 141-bedroom hotel at the start of July. The guide price was over £10m. This made it the second UK hotel to be bought by Singapore businessman Koh Wee Meng after he acquired the Imperial Hotel in Blackpool, for £12.8m.
The directors of Torquay Palace 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.”