Savoy sold after planning battle for flats block

The Savoy has been sold to an unnamed buyer, but will remain as a hotel after being listed as a development opportunity for flats last year.

The Lora family, who have owned the hotel since 1993, originally entered a planning application for the site to be redeveloped into 55 flats in 2021, which was rejected.

The decision was appealed in 2024 and the development was approved. It is unclear how much the site sold for, but last year the hotel was put up for sale for £6,250,000.

Roberto Lora said: "We are particularly delighted that the hotel will continue running to serve the island's tourism and hospitality industry."

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