Owners say it means it's 'extremely likely this business will not be closing down'
A well-known hotel in Douglas which was at risk of closure has found a buyer.
The owners of the Welbeck Hotel and Restaurant had previously announced it'd be closing its doors after almost 50 years.
Taking to social media, the owners say they now have a buyer, who's described as an 'international entrepreneur'.
The owner, Michael George, says they share their belief both in the Isle of Man as a whole and its hospitality industry.
While he says contracts are still yet to be agreed, it looks 'extremely likely this business will not be closing down'.
The family-run hotel first opened its doors in 1978, but last month warned a combination of family health circumstances and the 'increasingly challenging business climate' meant they couldn't continue operating the business.
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Mr George added the buyer in question also has plans to invest considerably in the Island.
He says it looks like all current bookings at the Welbeck will be honoured, and that for now it's business as usual.
You can read the full post below:
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