Conference hotel business, the QHotels Group, has been placed into administration to be replaced by a new holding company, QHotels Holdings. All other group companies are unaffected.
A revised three year refinancing arrangement has been agreed with Irish Bank Resolution Corporation to allow the new group to continue.
A statement from the group said the change in group holding company would have no impact on staff, customers or suppliers and the QHotels business would “continue as normal”.
The brief statement did not give further detail of why the company had entered administration although there had been attempts last April to sell four properties for £55mahead of plans to refinance the business..
The new-look QHotels business will continue to be led by Michael Purtill, Managing Director (pictured) and Ian Goulding, Finance Director. In addition, Tim Scoble has been appointed Chairman of QHotels Holdings. He had previously held a number of senior management roles in the leisure sector, both in the UK and internationally.
The collection had grown from two to 21 hotels between 2003 and 2010 and was awarded No.1 hotel brand in the Large Groups category of the VenueVerdict awards this month.
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