Esplanade sold to growing Asian-based hotels company

The 84-bedroom seafront is the latest addition to the growing portfolio of Asian-based Compass Hospitality's UK portfolio. It was on the market with an asking price of £1,650,000.
Compass boasts 'an increasingly substantial portfolio of 20 hotels' under its wing.
It says its current growth is being supported by the the 'momentum of the rebounding UK hospitality market'.
Compass say the Esplanade will be marketed to welcome a more diverse business mix inclusive of corporate, leisure and meeting event guests in addition to its domestic and in-bound Group Tour base.
The hotel's previous owners sparked controversy when it agreed to take in 100 asylum seekers after striking a deal with the Home Office last September.
The Esplanade was in the middle of a core holiday area and Torbay Council were faced with a hefty bill after some of refugees turned out to be juveniles and their care had to come under the local children's services budgets.
With the end of the Home Office imminent it was put on the market.
Harmil Singh, president and CEO of Compass Hospitality, said: "We are pleased to have the Esplanade Hotel complement our portfolio of properties in the UK. It stands as testament to our commitment to enhancing our collection of growing UK properties. As we continue to expand our presence in the dynamic landscape of the UK hospitality industry, Compass Hospitality remains dedicated to forging partnerships and pursuing acquisitions that align with our vision.”
Compass Hospitality is one of South East Asia’s fastest-growing hospitality management companies, managing and operating a ide portfolio of 50 hospitality properties across all market segments. The group expanded into the UK market in 2015 and has since built a portfolio of 20 hotels across the county.
Hotels operated by the company in the UK are located in London, Liverpool, Glasgow, Manchester, Leeds, Cardiff, Cheltenham, Eastbourne, Inverness, Coventry, Scarborough, Perth, Dundee, Dumfries, Dunfermline, Carmarthen, Paignton and Aberdeen.
It has four distinctive brands, Compass, Citrus, Citin, and Ananda, and alongside its Compass Collection which includes individually branded hotels and resorts, Compass manages and operates hotels, resorts, executive serviced apartments and spas in Thailand, Malaysia, Sri Lanka and the UK.