Luxury hotel to be sold after entering administration

Mon, 29 Feb 2016 | BUSINESS SALE

A luxury hotel in Sandsend, near Whitby, which has been in administration since July 2015, may have found a buyer in the form of property firm Yorkshire Ventures in a multi-million pound deal.

Raithwaite Hall, a 100-acre, 80-bedroom hotel, restaurant and spa, has been in the hands of administrators KMPG while they waited for offers. Now the Yorkshire Post has reported that an eight-figure sum has been tabled by Yorkshire Ventures. It is hoped that the deal will save the hotel and attract wealthy tourists to the Yorkshire coast.

Skelwith Group, which owns and operates Raithwaite Hall, was placed into administration last year following a petition to wind up a linked company, Skelwith Leisure, which subsequently went into liquidation with an outstanding debt of £19 million in unpaid tax.

Inn-telligence, a hotel and resort management company, has been appointed by Yorkshire Ventures to run Raithwaite Hall, employing 93 staff. The company has previously worked on a series of high-profile luxury hotel management projects, including Royal Palm Hotel in Galapagos.

Raithwaite Estate will be marketed alongside several other luxury hotels, including The Scotsman in Edinburgh, as both Inn-telligence and Yorkshire Ventures become joined under the company Preferred Hotels & Resorts.

However, there’s a chance that other parties may be able to get in on the deal before it is finalised later this week. A spokesman for KPMG said they are liaising with interested parties about selling Raithwaite Estate, but added that the administrators only comment on completed transactions.

View the latest UK businesses in administration.


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