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.”
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Related information:
Barinbrook Ltd enters administration
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