Wed, 13 Aug 2014 | ADMINISTRATION
Duff & Phelps has been brought into UK Group of Hotels, the parent company of the Hotel Collection, to rejig its banking facilities.
The subsidiaries are unaffected by the administration proceedings and all hotels are trading as normal. A statement from the holding company said the staff will keep their jobs, suppliers unchanged, and existing bookings will be carried out.
Joint administrators Paul Clark, David Whitehouse and Paul Williams of Duff & Phelps were appointed on 4 August 2014.
Owned by the former Puma Hotels Plc, the portfolio of 21 hotels was rebranded in May 2012 after Spanish firm Barcelo opted to exit the UK and management of the hotels.
CEO Fred Korralus said at the time of the rebranding that the hotel group had “achieved strong revenue growth, predominantly driven by the resurgence in the meetings and events market”.
Puma gave the hotels a new name – The Hotel Collection – in June this year. The hotels include: The Lygon Arms Broadway, Troon The Old Ship Hotel Brighton, and The Imperial Hotel, Torquay. Hampshire and Oxford are other locations where the company has hotels.
The Hotel Collection released a statement on the administration process: "This development in fact leaves The Hotel Collection well positioned to optimise its market position, initiate strategic investments to upgrade its portfolio and pursue targeted growth opportunities."
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