A landmark Southport hotel has been sold to a Merseyside entrepreneur for a six-figure sum.
The Bold Hotel on Lord Street has been acquired by AM Investments Ltd, which is headed by Andrew Mikhail, the Rainford-based businessman whose interests include energy installation company SolarKing UK and the prestige car dealership Marques of Distinction in St Helens.
The acquisition follows a successful business turnaround of the business by hotel management specialists Onecall Hospitality. Onecall was appointed as managing agents in January 2012 by West Register, which had purchased the business from administration.
The Onecall team has since overseen a £300k improvement programme, which has included a refurbishment of the ground floor to create a new function suite, as well as an open plan dining, bar and snug area.
Mark Chambers, Director of Onecall, said: “The Bold Hotel is one of the best known hotels in Southport and was a well-respected amenity but loss making at the time of our appointment. We have worked with the loyal staff team and it is now profitable and well-managed establishment. We would like to wish manager Adam Draper and his team all the best for the future.”
The Bold Hotel is situated in the heart of Southport’s main shopping area. It has 23 en-suite bedrooms and has won the respected Trip Advisor Certificate of Excellence in both 2014 and 2015. It has also a reputation for its food and prides itself on using locally-sourced and produced food.
New owner Andrew Mikhail also owns the Eccleston Arms Bar and Grill in St Helens, which he acquired earlier this year and has renovated to provide dining and accommodation facilities.
Colliers International acted as agents for the sale.