Beannchor Group acquire Park Avenue Hotel

03 September 2019

The four-star Park Avenue Hotel in east Belfast has been acquired by Beannchor Group.

The 56-bed property, which has been in the same family ownership since 1959, were completed on Friday.

The business had been operating under a Company Voluntary Arrangement since October 2016, but the acquisition is set to safeguard the future of the business and ensure all 60 staff are retained.

Beannchor is expected to invest heavily into the property.

In statement the company said: "Beannchor Group has taken on operations of the Park Avenue Hotel.

"Over the coming weeks we will seek to review all options and future plans for the business and our immediate objective will be to preserve employment and continue to serve Park Avenue customers."

It comes as Beannchor begins work on a new £4m hotel in the centre of Lisburn.

Expected to be open next spring, the 52-bed Haslem Hotel will create 75 new jobs in the city.

Both hotels join a growing hospitality portfolio that already includes the five-star Merchant Hotel, Bullitt Hotel and eight Little Wing pizzerias.

Beannchor has also recently invested £350,000 in Belfast bar and eatery The National in the Cathedral Quarter and undertook a £500,000 refurbishment of The Merchant Hotel's public bar, The Cloth Ear.