Ramada hotels swiftly bought out of administration

Two hotels in Norfolk and Suffolk have been saved from the administration of their parent company after being swiftly bought up by a rival hotel group.

The Ramada hotels in King's Lynn and Bury St Edmunds were snapped up by Akkeron Hotels Group just days after their parent company, Butterfly Hotels, entered administration. The hotels will bolster Akkeron's healthy portfolio of 26 hotels nationwide and are part of a deal that takes in 10 other properties across the UK, formerly operated by Butterfly.

The sale was orchestrated by the company's administrators, Begbies Traynor, who said that the deal saved more than 200 jobs across the UK and would allow the Butterfly hotels to continue trading without interruption.

Akkeron's sales and marketing director, Nick Greaves, said that the decision to include the two Ramada hotels in the deal was not a difficult one.

"[They] are good solid businesses that were hampered by the debt of their parent company and we have been able to act quickly to safeguard their future," he explained. "From the customer's perspective, it will be business as usual, but the management will benefit from the support of a wider group and the businesses will have the funding required to trade properly."

He said that the only changes that the deal would prompt would be steady improvements to the hotels' service and facilities.

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