Mon, 05 Dec 2011 | BUSINESS SALE
Following the fall into administration of the Fortmere Group earlier this year, the sale of a West Midlands-based hotel has now been agreed.
The Ramada Warwick Hotel and Conference Centre at Kenilworth has been acquired for an undisclosed cash sum by new owner Wise Hotel.
The Ramada hotel is the second property owned by the Fortmere Group to be sold off following its move into administration in May, with the Ramada Park Hall Hotel and Spa in Wolverhampton sold last month.
Thirty jobs have been saved as a result of The Ramada Warwick Hotel sale – which was overseen by joint administrators David Bennett and Joe McLean from Grant Thornton UK.
Mr Bennett told The Birmingham Post, “The administrators have traded the Ramada Warwick since May and we are very pleased to now sell the hotel, particularly in what are still challenging times for many sectors of the economy.”
Director at Wise Hotel, Ravi Johal, told the newspaper, “We are very pleased to be expanding our hotel footprint in the Midlands and look to make improvements to the Ramada Warwick Hotel immediately.
"We aim to enhance the hotel’s trading in both business and tourist markets and look forward to working with the very experienced team already in place," Mr Johal added.
Following this latest sale, the Ramada Birmingham Oldbury Hotel is the only hotel owned by the Fortmere Group that has yet to find a buyer.
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