Fragrance Group Invests £120M in Torbay, Bringing 100 Jobs and Two New Hotels to Paignton
The Fragrance Group has announced a £120 million investment in Torbay, with £30 million dedicated to Paignton alone. This significant investment will create around 100 new jobs and bring two new purpose-built hotels to Esplanade Road in Paignton, the first in over 100 years.
The Fragrance Group has acquired four sites in Torbay, including the former Palace Hotel and the old Corbyn Head Hotel. Planning permission for redeveloping these sites was granted in 2019 by Torquay architects Kay Elliott. The two new hotels in Paignton will be built on the sites of the former Park Hotel and Lighthouse club on Esplanade Road.
The Fragrance Group has signed contracts with Midas Construction to build these hotels. Upon completion, they will offer over 275 new bedrooms, along with other facilities like restaurants, a gym, and a spa. Torbay Council estimates that guests at the hotels will spend nearly £5 million locally each year. Initially, these hotels will be operated by Cordelia Hotels, with one being a 161-bedroom Mercure and the other a 117-bed Ibis Styles under the Accor group.
The Fragrance Group's £120 million investment in Torbay, with a significant portion in Paignton, is set to transform the area's hospitality news. The new hotels, built by Midas Construction, will not only provide jobs but also boost the local economy through increased visitor spending.
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