They are investing £2m to have it specialise as a wedding venue. They already own the Mercure Newcastle, George Washington in Washington and the Quality Hotel in Boldon, plus others in Yorkshire and the North West.
Neel Chawla’s Ailantus chain of £12m turnover has hotels in Cheshire, Oldham, Yorkshire and Manchester. Newcastle Law
Firm Mincoffs advised on the multi-million pound deal. It is hoped to swell the Holiday Inn’s £3m revenues by 25% over the next two years.