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A Glasgow hotel is to undergo an overhaul and become a new conference and events facility.
The Central in the Scottish city was once a glamorous location and the new owners are hoping to restore it to its former glory, the Times reports.
It was closed in February after owners the Real Hotel Company (RHC) went into administration, but Principal Hayley has bought the property and plans to invest £20 million into it, with it due to be reopened in February next year.
Tony Troy, the chief executive of Principal Hayley, told the newspaper: "Taking on a hotel that is completely unloved is just the sort of project we love."
The company is also buying the New Connaught Rooms in London, following RHC's administration, which will become the firm's only non-residential conference venue.
Glasgow will see a boom in conference facilities in the coming years as new developments open, with the Bothwell Plaza due to be unveiled in 2011, complete with events capacity.
Last month it was revealed Glasgow facility the Scottish Exhibition and Conference Centre had secured three big events for the coming months, including the Music of Black Origin awards.