INTERNATIONAL brand Golden Tulip is taking over Bournemouth's Metro Hotel in a £25 million deal.
Golden Tulip is leasing the Metro - formerly the Palace Court - plus a second hotel at Manchester Airport.
Around £9 million will be spent on the Metro in Westover Road to bring it up to four-star standards.
It will be only the second four-star Golden Tulip in the UK after Manchester.
Bournemouth-based Goadsby, which acted for Golden Tulip, believes the deal is a major boost for the town.
Goadsby's director of leisure David Huck said: "It's excellent news for Bournemouth.
"This is a landmark building and brilliant news in terms of such a very significant international brand coming to the town.
"It sends out the right signals when a company such as Golden Tulip is prepared to invest substantial sums in Bournemouth."
Golden Tulip UK has taken a 35-year lease of the hotel from GSC Property Holdings, which acquired it from Bournemouth entrepreneur Andy Price of 21st Century Leisure.
Refurbishment works are due to begin "shortly" and set to be completed by 2007.
Golden Tulip UK chief executive Peter Roberts said: "Bournemouth is the ideal spot for our second Golden Tulip.
"All Golden Tulips offer international standards and local flavours and I am confident the new hotel will benefit from the town's great popularity as both a conference and leisure destination."
Golden Tulip UK's parent group is based in Amersfoort, Holland and Lausanne, Switzerland.
It franchises more than 200 hotels across 40 countries, predominantly in urban locations across Europe, the Middle East and Africa.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article