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Blue Rainbow Apartments, the Manchester-based operator of serviced apartments, has been bought out of administration by City Space Hotels, saving 39 jobs.
Blue Rainbow is looking to open at least five more aparthotels and four standalone Tea 42 restaurants, including sites in Birmingham, Leeds, Liverpool, Manchester and Newcastle.
Blue Rainbow Aparthotels is to open its first Tea 42 restaurant in Manchester this autumn, with the creation of 20 jobs, which could lead to the development of a new chain.
Blue Rainbow is to invest £20m in the expansion of its Aparthotels by the end of next year, including new sites in Manchester and Leeds.
Blue Rainbow has acquired the 30-room Royal Garden Apartments in Edinburgh, as part of a strategy to develop a nationwide chain of apartment hotels.
Blue Rainbow of Manchester is planning to expand across the country by opening luxury serviced apartments in Aberdeen, Birmingham, Bristol, Liverpool and London next year.