Tue, 19 Feb 2013 | ADMINISTRATION
The Hotel on the Park, located in Cheltenham, Gloucestershire, has entered administration, after being on the market with a £2.6 million price tag since November.
Joint administrators from Duff & Phelps have come in to the boutique hotel after it was hit by reduced trading in the recession. The hotel is still operating for now, safeguarding nine jobs.
The Hotel on the Park property is Grade ll-listed and dates back to the 1830s. It features 12 rooms, a bar and a 42-cover restaurant called The Parkers Brassiere.
Matt Bond from Duff & Phelps said in a statement: “We, the joint administrators, will continue to trade the hotel on a business as usual basis while seeking a buyer for the hotel which remains open and looking forward to a busy Festival week.”
Colliers International had been assigned the task of selling the hotel in November. Mr Peter Brunt from the agents told This is Gloucestershire: “It retains many original features, but also has undergone a complete refurbishment bringing all the facilities very much up to date.”
The Hotel UK company behind the town house hotel, owned by Benjamin Bowen, has won several awards including the RAC gold ribbon, and the Conde Nast Johansen’s Most Excellent City Hotel Award in the UK and Ireland. The company appears to be unaffected by the Hotel on the Park’s move into administration.
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