Thu, 24 Nov 2011 | BUSINESS SALE
The future of three West Midland hotels hung in the balance when owners the Fortmere Group fell into administration in May of this year.
However, one of them, the Ramada Park Hall Hotel and Spa in Wolverhampton, has now been saved thanks to a deal to sell it out of administration.
The joint administrators of the Fortmere Group, Grant Thornton UK's David Bennett and Joe McLean, have sold the hotel to a new buyer for an undisclosed sum.
The hotel's new owner, R S Power and Partners, have safeguarded more than 100 jobs at the hotel, as well as securing its future.
Mr Bennett told the Birmingham Post, “We are very pleased to have sold this iconic Wolverhampton hotel, especially given the difficult economic times and the challenges being faced by the hotel sector.”
Earlier this year, Grant Thornton confirmed that all three of the hotels affected by Fortmere's administration - the Ramada Park Hall Hotel and Spa, the Ramada Birmingham Hotel and Conference Centre in Oldbury and the Ramada Warwick Hotel and Conference Centre in Kenilworth - would continue trading as normal whilst 'all options and offers were considered.'
New owner Mr Power told the newspaper, “Ramada Park Hall has a promising future ahead and we are currently putting plans together for a full refurbishment of the hotel. We are continuing to take bookings for the Christmas season and look forward to welcoming everyone, both long-standing and new customers.”
A well-established and successful 5* rated car and van dealer, which has only been made available for sale due to our client wishing to pursue other technology business interests. The business offers a wide range of services, from finding the perfect...
LEASEHOLD
The Company supplies Marketing and Sales professionals, for both large corporate organisations and SMEs, with all their branded and promotional material needs from brochures, banners, and exhibition stands to branded pens, notebooks, power banks, and...
LEASEHOLD
Seeking parties interested in the business and assets of a company that operates within the sanitation industry.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.