Thu, 27 Mar 2014 | COMMERCIAL PROPERTY
Five hotels owned by Barinbrook Limited (formerly known as Akkeron Hotels) have been sold out of administration.
The hotels in question are four Quality Hotels in East Anglia; in Bury St Edmunds, Colchester, Peterborough and Kings Lynn; and the Clarion Collection Cromwell Hotel in Stevenage. West Register (Property Investments) bought the hotels on Tuesday (25 March).
The hotels had entered administration in February when the parent companies – Barinbrook Ltd and Barinbrook (Central) Akkeron Hotels – became insolvent. The sale of the leasehold hotels, which have gone to West Register (Property Investments) Limited and will be managed by Jupiter Hotels, will save 133 jobs.
Nick Cropper, joint administrator and partner at Zolfo Cooper, the firm which oversaw the sale, said: “We are delighted that a sale of these five hotels has been achieved and would like to thank the staff for their support and professionalism during this process.”
Shane Harris, CEO of Jupiter Hotels added: “The addition of these five new hotels is a positive move for us, representing an increase of almost 20 per cent in the size of our portfolio and establishing us as a multi-brand leader in the midscale hotel segment.
“These management contracts enable us to establish a strong foothold in East Anglia, one of the UK’s fastest growing regional economies after London and the South East.”
______________________________________________________________________
Related information:
Barinbrook Ltd enters administration
Creative ways to raise finance for an acquisition
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
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.