Hotel sold - and it could pave the way for more 'considerable island investment'

The sale of Douglas’s Welbeck Hotel to an international entrepreneur could be the first step towards further investment in the Isle of Man, according to the outgoing owners.

The George family announced on Wednesday that they had agreed a sale with a buyer who shares their confidence in the island and its hospitality industry.

Although contracts are still to be finalised, the purchaser has indicated that the deal could mark the beginning of ‘some considerable island investment’.

The announcement offers a significant boost to the future of the family-run hotel, which had been due to close on Monday, November 23, after 48 years under the ownership of the George family.

In a statement, the hotel said: ‘It gives me great pleasure to announce the sale of The Welbeck Hotel, Bar & Restaurant.

‘Although there are contracts to agree, the buyer is an international entrepreneur who shares our belief, both in the Isle of Man as a whole and its hospitality industry.

‘The purchaser has inferred that will be the first stage of some considerable island investment.’

The owners added that it now looked ‘extremely likely’ the business would not close, and said all existing bookings would be honoured.

Customers have been asked to be patient while the details and formalities are completed, with the hotel confirming it remains business as usual for now.

The development follows an update last week, when owner Michael George revealed the family had received interest from someone considering retaining the Welbeck as a hotel.

That came just a day after the planned closure was announced, prompting an outpouring of messages from customers and members of the public saddened by the prospect of losing a long-established Douglas business.

The family had cited personal health circumstances and an increasingly challenging business climate in explaining the decision to close. Previous attempts to find a buyer had been unsuccessful.

The Welbeck was taken over by the George family in 1978 and has since grown to include 27 en-suite hotel rooms and seven self-catering apartments.

No further details about the buyer or the proposed investment have yet been released. The hotel said it hoped to share more news in the near future.