North Yorkshire hotel acquired
Scarborough hotel Esplanade Gardens is under new ownership.
The three-star hotel was acquired with a funding package from the Royal Bank of Scotland.
Husband and wife team Glenn and Caroline Royston are taking over, with plans to renovate the 10-room boutique hotel .
Glenn Royston, owner of Esplanade Gardens Hotel, said: “We are really pleased that our acquisition of the hotel has been a success.
“We wanted to move to Scarborough to be closer to our family and having over 10 years’ experience in the hospitality industry decided that running our own B&B in the town would be our ideal solution to finding work in the area.
“Not only is Esplanade Gardens a beautiful property but it is brilliantly located and the previous owners had built up a fantastic business and reputation for the B&B.
“We plan to continue to run the guest house to these same exacting standards and we know that the business attracts many repeat customers each year, all of whom we are looking forward to welcoming and getting to know.”
Gary Butterfield, business lending manager at Royal Bank of Scotland, said: “I am pleased that we have been able to support Glenn and Caroline with the acquisition of Esplanade Gardens Hotel. The B&B is a fantastic business with a proven track record of success and we wish them the best for the future.”
