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.”
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