Two friends who met 25 years ago while working in The City of London have gone into partnership to buy and run a hotel in St Ives.
Former banker Charles Sayers, ex-broker Peter Sellers and their wives bought The Atlantic Hotel, formerly known as Casa Romano, in St Ives with help from NatWest.
They have already built a new bar and have big plans for the hotel and its restaurant, which they will put into place after the busy summer season.
Sellers said: “Charles left The City to live in Gloucestershire, where he ran an antiques business, and he now has a bed and breakfast in Brixham with his wife, Jelena. He wanted to expand into hotels and we decided to take on The Atlantic Hotel as a partnership.”
Peter and Julie Sellers, who has experience of working in hotels and catering, have moved to St Ives from Surrey to manage the 18-room hotel. Charles and Jelena Sayers are staying in Devon to run their B&B and will help out with the new acquisition at peak times.
At the end of the season the new owners plan to create a bistro and diner in place of the single Italian restaurant which is currently at the hotel.
The two couples worked with NatWest relationship manager Elizabeth Stansfield, who specialises in the leisure sector, to secure funding to purchase the hotel.
She said: “It was great to meet Peter and Charles who have so much enthusiasm and were brimming with fresh ideas to give this hotel a new lease of life. After hearing about their plans to buy the hotel and develop the business further I was delighted to be able to assist them with a comprehensive package to support their requirements.”