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The Imperial Hotel (photo credit: lancashirebusinessview.co.uk)
Fragrance Group recently revealed that it has successfully acquired The Imperial Hotel, Blackpool in Lancashire, England for £12.8 million (S$22.6 million), reported TODAYonline.
“The group wishes to announce that the purchase has been completed on 20 February 2017 with internal funds,” it said in a filing with the local stock exchange.
Constructed in 1867, the four-star hotel comes with nine suites and 180 rooms, sited on freehold land with a total area of around 9,388 sq m.
According to Fragrance Group, the property is a popular landmark in Blackpool. Not only does it overlook the sea, its location along the North Promenade provides guests with easy access to all important tourist sites in the area.
The hotel, which was bought by its Fragrance UK-Blackpool subsidiary, is also expected to increase the group’s gross revenue for the present financial year ending 31 December 2017.
However, the stock value of Fragrance Group dipped by 1.2 percent to 17 cents per share on Tuesday (21 February), valuing the company at around S$1.14 billion. The price of its stocks have increased by 6.3 percent so far this year versus the 7.4 percent growth in the benchmark Straits Times Index.
Christopher Chitty, Senior Content Specialist, edited this story
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