A landmark Newcastle hotel has been bought out of administration by the hotels arm of a locally-based care homes company.
Gainford Care Homes has bought the four-star Vermont Hotel from administrator Deloitte for around £9m.
The 101-bedroom hotel contains conference facilities and a stand-alone bar. Gainford is expected to refurbish the hotel.
Christie+Co and Colliers International Hotels acted for Deloitte.
daniel.cunningham@estatesgazette.com
