Former BBC director general Greg Dyke’s hotel company has bought the Cutlers Hotel in Sheffield out of administration.
The three-star, 45-bed hotel on George Street in the city centre has been purchased by Saxon Hotels.
Dyke is chairman and owner of the firm, which operates a Best Western Hotel and Whirlowbrook Hall near the city.
FRP Advisory joint administrator and partner Phil Pierce said: “The sale of this landmark Sheffield hotel is a great result for the business, its customers and all 16 staff that transfer over to new owners Saxon Hotels. The administration period provided a vital cushion to allow for a thorough marketing process while the hotel continued to trade as normal. We wish the new owners every success.”
Dyke said: “Our business in Sheffield has performed well since we acquired it nearly 10 years ago and has established a good reputation with many local companies and organisations. The opportunity to acquire Cutlers Hotel is a perfect fit for us and our existing management team. We will be investing substantially to bring this popular city centre hotel right up to date and to meeting our guests’ expectations. I’m confident it will be a successful and long-term contributor to Sheffield’s increasingly vibrant urban life”.
Colliers acted for the administrators, FRP advisory acted for the purchaser.
