Parkmore hotel under new management following management buy in

Experienced hoteliers, Jeremy and Louise Leeds, are to take the reins at one of Yarm’s top hotels following a management buy in deal with funding from Alliance & Leicester Commercial Bank.

Jeremy and his wife Louise both have extensive experience in the hotel industry, having worked for a number of large, well known hotel chains as well as independent operators across the UK. Following their investment, Jeremy and Louise intend to build on Parkmore’s success, maximising its potential.

Jeremy Leeds, Managing Director of Parkmore Hotel said: “After working in the industry all our lives, we are thrilled to own and manage our own hotel. Parkmore is an established hotel, in a great location with excellent restaurant and leisure facilities. We intend to build on Parkmore’s reputation, by offering a mouth-watering new menu in our restaurant and developing the extensive leisure facilities for both residents and non residents to enjoy. In addition, we will be listening to feedback and suggestions from our customers and staff to constantly look to further enhance our service and facilities.”

Craig Iley, Senior Business Banking Manager at Alliance & Leicester Commercial Bank said:“Parkmore is a strong, established business and a great investment. This management buy in provides a fantastic opportunity for Jeremy and Louise to run their own hotel and invest in their future, and we are delighted to have been able to make their dream a reality.”

Craig Iley continues:“Jeremy and Louise’s experience and drive will help to develop the business, maximising the hotel’s potential and creating new opportunities for growth. I would like to wish them both every success with Parkmore and I look forward to providing them with ongoing support as the business continues to evolve.”

Built in 1896, the Parkmore hotel was originally built as a home for a wealthy shipping magnate and was later converted into a bed and breakfast. In 1967 the Reed family bought the business, which at the time had 12 guest rooms. Catherine Reed managed the hotel until her son Brian Reed took the reins in 1986. Brian subsequently extended the hotel, creating over 40 new rooms, conference facilities and a leisure club. Brian Reed continues to hold a share of the business and will provide support for Jeremy and Louise as they take Parkmore forward into the next chapter of the hotels history.