A US-based hotel group has acquired two UK hotels after receiving funding from Natwest.
The group, which operates as ‘Cambridgeshire Hotels’ in the UK, was given a £1.8m loan to help it buy The Dolphin and The Pike & Eel in St Ives, Cambridgeshire.
Cambridgeshire Hotels was created by Oklahoma-based Aston Management Company.
The Dolphin hotel will undergo a number of refurbishments and its launch under the new company has created 11 new jobs at the guesthouse.
Ravi Gupta, managing director of Cambridgeshire Hotels, said: “We will continue to operate these fantastic hotels as independent, family-run hotels, retaining their character while looking to make improvements wherever possible.”