The manager of Brighton's Grand hotel has pledged to deliver business as usual after the famous building was put on the market.

The hotel in Kings Road Brighton is up for sale with a £50 million price tag after owners the De Vere Group spent more than £7 million on improvements to the hotel.

The upgrade included a new spa, an improved bar, a new restaurant and refurbished bedrooms.

The Argus reported last year that the group would seek a sale to ease its £1.1 billion debt held by the Lloyds Banking Group, a hangover from the company’s pre-recession spending spree.

De Vere has appointed Christie and Co to handle the sale amid an upturn in activity in the hotel sector.

The 150-year-old hotel was rebuilt in 1984 following an IRA bomb which ripped through the property during the Tory Party conference.

It is one of 1,200 listed buildings in the city. A deluxe king-sized room costs £225 a night.

But in recent years it has faced competition from more fashion-conscious brands such as Hotel du Vin in Ship Street, Drakes in Marine Parade and myhotel in Jubilee Street.

The Grand has been part of the De Vere Group portfolio for more than 20 years.

General manager Andrew Mosley said hotel guests could look forward to the usual five-star standard of service.

He said: “I have spoken to the staff and they are all excited about the opportunities this development could present.”

A spokesman for the De Vere Group chief executive said it has already received strong interest in the hotel He said: “We will not rush to sell the hotel. We will take our time and get the best deal.”