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Principal Hayley to revamp conference venues

Principal Hayley Group announces acquisition of Liverpool venue, while hinting bigger investment is to come

Pictured: The historic Martins Bank, used as a secret storage place for gold during the Second World War, has been acquired by Principal Hayley Group

Hotel and conference centre provider Principal Hayley Group has revealed plans to turn Liverpool's historic Martins Bank building into a hotel, as part of its £100 million strategic repositioning.

The group has acquired the Grade II-listed property, which was used as a secret storage for the country's gold reserve during the Second World War, and says it will convert it into a 227-room luxury hotel.

Principal Hayley has also indicated tentative plans for an additional "multi-million pound investment" for its manor house conference properties in 2016, though no further information has yet been released.

The acquisition of Martins Bank follows a £100m investment to refurbish some of the group's key properties, including The Royal York Hotel in York and The George Hotel in Edinburgh, both of which recently reopened.

“We are delighted to complete the acquisition of this important property,” said CEO Tony Troy.

“The Martins Bank building provides us with a strategically important presence in the heart of the Liverpool market, where there is a clear consumer need for a full-service luxury hotel and events space. Following a very successful year in 2015, we are looking forward to undertake the redevelopment of this wonderful building and - together with the development of our other key city-centre ‘grand-dame’ hotels - share our exciting plans for the future.”

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