THE Hilton Hotel in Central Promenade, Douglas, is to revert to its original name.
As of November 13, it will be called the Palace Hotel and Casino and will operate as an independent four-star hotel within the Sefton Group.
This means that Hilton will no longer have a presence on the Isle of Man.
Chief executive of the Sefton Group, Brett Martin said: "Palace Hotel and Hilton have enjoyed a harmonious and mutually beneficial association over the past few years and we would like to thank Hilton for their part in this.
"However, going forward we believe that the Hotel will operate best as part of the Sefton Group brand with the benefits that independence and operational flexibility provide."
The current franchise with Hilton UK Hotels Limited was entered into in May 2007 upon Sefton Group Plc’s acquisition of the Palace operation, for a term of three and a half years.
It has been ended by mutual agreement.
Regional head of full service brand management for Hilton Worldwide in Europe, Meaghan Murta, said: "The decision not to renew the franchise agreement is amicable and allows both parties time to explore new opportunities.
"Our experience with Hilton Isle of Man has been positive and we have enjoyed the association with the owners. We wish them continued success in the future."
Managing director of the Palace Hotel and Casino Limited, Adrian Brockhouse, said: "Whilst I have enjoyed working with Hilton I very much welcome the opportunity to integrate into the Sefton structure.
"For the first time we will be able to fully promote our range of hotel product, from the budget offering of Sefton Express through the leisure-complex of Palace to the luxury of our flagship Sefton Hotel."
The Palace Hotel and Casino originally opened in the mid 1960s and since that time has undergone different name changes and ownership.
It was the first licensed casino in the British Isles.
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