A Bridlington plumber has downed tools to take over ownership of The Promenade Hotel after securing funding.
Danny Pandya, a self-employed plumber and his partner Daniel Milnes have used a £196,000 funding package from NatWest, to secure the purchase of the 10-bedroom hotel in East Yorkshire.
Entrepreneur Danny had aspired to own his own hotel business for several years and moved from his home town of Essex in December, with Daniel, a London-based financial advisor, to search for the perfect seafront venue. The pair were immediately drawn to The Promenade Hotel, as it is well established in the local area and holds a five-star rating on TripAdvisor.
They have now taken over immediate ownership and Danny will undertake sole responsibility for the day to day running of the business, with the support of two part-time members of staff.
Located on the North Promenade at Bridlington, just a short walk from the beach, the hotel has recently been refurbished inside and out.
Co-owner Danny, said: “As soon as we viewed The Promenade Hotel, Daniel and I knew it was the perfect venue for us. It was well kept, well established and it’s clear it has been well managed, which meant as soon as we got the keys we could welcome our first guest immediately.
“The funding from NatWest helped us raise the final amount of finance we needed to purchase the venue and the support they have given us throughout the whole process has been invaluable.”
NatWest business development manager Simon Steer supported the deal activity, alongside relationship manager Dave Oram. Dave said: “Danny and Daniel are both extremely passionate and determined to make their new business venture a success. The Promenade Hotel promises to be a great investment and will provide the opportunity for the pair to further their entrepreneurial potential and build upon the hotel’s popularity to date.”
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