The hotel, in London Road, was bought by newly-formed company Cambridgeshire Hotels Ltd for £3.4 million before being taken over by its new management in February. Plans for the hotel are at a preliminary stage. However, initially the hotel rooms will be upgraded to achieve parity with the common mid-scale market chains such as the Holiday Inn Expresses, Premier Inns, and Hampton Inns, Ravi Gupta, one of the companys founders and directors, told The Hunts Post. T he hotel restaurant is famous for its carvery, so that tradition will be maintained but changes will be made to the evening menu to serve cuisine more akin to the T.G.I Fridays and Nandos of the world. As well as these changes, the new owners hope to look into installing a sports bar in the hotel, drawing in crowds to watch events on large screen televisions. Mr Gupta added: Major renovation of the public area is planned to be carried out in the next 18 months to enhance the appearance of the hotel and make it the place to go in St Ives. The room prices will change but, gradually, as value is added to the final product. However, rates will be maintained to allow economy and savings over the similarly situated hotels in the surrounding areas. Mr Gupta added that prices will shift throughout the year, and could be lower off-season before being raised at peak periods by about five per cent. The hotel will make up the first UK branch of Cambridgeshire Hotels, which was put together by investors and US-based fir m, Aston Management Company. Experienced in the world of hotels, the company has been involved in the construction and operation of hotels in the US. T he company [Aston Management] understands that the St Ives area is a historic town with a great deal of tradition. We wish to employ our resources to help the community prosper and prosper alongside the community, Mr Gupta said. Cambridgeshire Hotels also announced it had acquired The Pike & Eel, in Needingworth, for £1,360,000 earlier this month.