A prominent hotel in Bury St Edmunds is under new ownership after being bought in a multi-million pound deal.
The 71-bedroom Dragonfly Hotel, in Symonds Road, has been bought by the expanding Surya Hotels group.
The Dragonfly portfolio is a great fit for our brand.Suki Dulai, managing director
The hotel is one of four which has just been snapped up by the group.
The others are a 50-room King’s Lynn hotel, a 50-room Colchester hotel and a 70-room Peterborough hotel.
The new owners have promised further investment in the properties and say that jobs will not be axed.
Suki Dulai, managing director of Surya Hotels, said: “The Dragonfly portfolio is a great fit for our brand - which is all about delivering quality facilities at fantastic prices in the heart of stunning villages, towns and thriving local communities.
“We are delighted to have successfully acquired four wonderfully situated venues in East Anglia to add to our already impressive line-up in the area.
“All four hotels will undergo extensive refurbishment to bring them up to the standards of others within our group.”
RBS appointed Colliers International’s Hotel Agency Team to sell the Dragonfly portfolio in July 2015.
The chain, which operates in five key locations across East Anglia, has an estimated joint value of around £14 million.
Surya Hotels, part of Flying Trade Group, is one of the UK’s leading niche hotel groups with a rapidly expanding portfolio of properties, situated in some of the UK’s most idyllic settings, from historic towns and coastal resorts to picturesque villages.
The successful acquisition sees Surya Hotel’s portfolio increase to 11 hotels across the UK, with the Dragonfly properties joining the likes of Great Hallingbury Manor, near Stansted, The Kingscliff Hotel, Essex, The Duke’s Head in Norfolk and The Mill Hotel in Suffolk.
All four Dragonfly hotels are open for business as usual and will remain under the Dragonfly brand, with significant investment planned across the group to bring the properties in line with Surya Hotel standards.
While Surya Hotels will now assume management, it will not result in any staff changes on the ground and the hotel’s staff will be transferred to Surya Hotels Ltd under a TUPE arrangement.
This is the second acquisition by the Surya Hotels group completed in 2015.
In January it added the historic George Hotel to its portfolio - one of Colchester’s most iconic and long standing hotels.