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The New Continental Hotel in Plymouth has been acquired by Elevate Hotels from Napangelos Limited for an undisclosed sum.
The Grade-II listed property, which opened in the 1870s, is the largest independently owned hotel in the city. The site includes 99 en suite bedrooms, a leisure complex with a pool and gym, and several conference facilities.
Located 0.25 miles from the city centre, the hotel is situated near Plymouth Pavilions and the ferry terminal. The city remains a major commercial hub and tourist destination due to its coastal location.
The new owners intend to rebrand the property under the Hilton Tapestry Collection. The transition will be managed alongside operating partner Legacy Hotels and Resorts.
A representative for Napangelos said: “This represents the sale of an asset that has been owned by our family for over 40 years. We would like to thank Savills and particularly James Greenslade for his assistance in helping manage this sale to a successful conclusion.”
Director at Savills hotel capital markets, James Greenslade, who handled the sale, added: “This transaction reflects the sustained interest in high-quality regional hotel assets, particularly those offering strong operational performance and a diverse range of guest amenities.”
Elevate Hotels Plymouth representative, Al Malik, said: “We are delighted to have acquired the New Continental Hotel, a landmark property with a long-standing heritage in the heart of Plymouth. This acquisition aligns with our strategy of investing in high-quality regional hotels with strong trading fundamentals and significant upside potential.”
