The new owners said the apartment plans are still being considered.
As well as the refurbishment, work has also been carried out in the bar and communal areas, while the corridors and outside of the hotel also have a new look following a substantial investment.
Arvind Bhardwaj has been appointed general manager at the hotel, bringing with him nearly 20 years of experience in the industry.
His first job was in Dubai before he relocated to Scotland to work at what is now called the Trump Turnberry, a hotel and golf complex owned by former US president Donald Trump.
From there, Arvind moved to Stratford-upon-Avon where he worked at several hotels including at Crowne Plaza, The Arden Hotel - opposite the Royal Shakespeare Theatre - and most recently Hotel Du Vin.
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