Iconic seafront hotel The Grand Brighton is set to undergo a renovation project, following its acquisition by the Fattal Hotel Group.
The five-star Victorian property was built in 1864, and featured the first lift to be installed in the UK outside of London.
The hotel was the scene of an IRA bomb in August 1984 on the eve of the Conservative Party conference, and in recent times has been operated by the De Vere Group, before being sold to Wittington Investments and subsequently Fattal Hotel Group earlier this year.
Property lender Leumi UK has provided a £43.7 million loan to an Special Purpose Vehicle of Fattal Hotel Group, which will be used to help fund the acquisition and refurbishment of the property.
Israeli-based Fattal owns and operates brands including NYX and Leonardo Hotels, and last year acquired The Dilly hotel on London’s Piccadilly, with plans to renovate the property with the aim of creating “a leading luxury hotel”.
Fattal Group plans £90 million refurb of London’s Dilly Hotel
The acquisition and forthcoming renovation of The Grand Brighton follows the recent completion of a £26 million refurbishment of the Hilton Brighton Metropole, which has since been reflagged under Hilton’s DoubleTree brand.
Commenting on the news Guy Vardi and Yaniv Amzaleg at Fattal Hotel Group said:
“We were delighted to partner with Leumi UK on the acquisition of this iconic hotel. The hotel is a perfect fit with the rest of our Limited Edition Hotels in the UK which include the Midland Manchester Hotel and the Dilly Hotel in London Piccadilly.
“We have big plans for the hotel and will now start planning the extensive renovation program. The Grand Brighton hotel is the 18th hotel we acquired in the last 12 months together with our institutional investors in the Fattal European Partnership, with a transaction volume of more than €800 million.”