Vine Hotels, a  hotel owner, operator, and management company based in UK, has announced a multimillion-pound investment in Cutlers Hotel, reported Insider Media.

Headquartered in Sheffield city of South Yorkshire County, the company operates four hotels in the city.

These properties consist of Double Tree by Hilton Sheffield Park, Kenwood Hall Hotel & Spa, Mosborough Hall Hotel, and Cutlers Hotel besides Whirlowbrook Hall and The Old Rectory event spaces,.

With this investment, the dated Cutlers Hotel is expected to be transformed into an all-suite hotel.

It will include 27 suites, with each featuring a lounge, one or two ensuite bedrooms, and a private kitchen.

This multimillion-dollar investment is expected to boost the city’s economy.

Vine Hotels group chief executive Garin Davies was quoted by the publication as saying: "There is a clear demand for this type of accommodation in Sheffield. Indeed, our city is well behind other regional destinations in providing this much sought-after type of accommodation, delivered in a high quality, professionally managed environment.

"The very central setting of Cutlers Hotel makes it an ideal location for an all-suite hotel, with visitors to Sheffield able to enjoy the wide range of bars, restaurants, theatres, and retail options right on the doorstep."

A planning application for the project will be submitted this month.

Construction of this project is expected to begin later this year, followed by an estimated 12-month building schedule.

Vine Hotels is owned by chairman Greg Dyke, who is the former director general of the BBC; and chief executive Garin Davies, who is the former main board director of Best Western and former divisional director of BDL Management.