Caterer and Hotelkeeper – 6132

Ashley Court finds buyer

THE curtain has finally fallen on the long-running drama at Ashley Court Hotel, subject of an attempted business rescue package run by Caterer and the Tricon consultancy and published in Caterer's award-winning Lifesaver series.

Last week the hotel in Andover, Hampshire, which had been in receivership since November 1991, was sold to Alex Lababedi, owner of the Lake Holidays Hotel in St Albans, Hertfordshire.

Property agent Knight Frank & Rutley had been seeking offers in the region of £750,000 for the 35-bedroom hotel. Former owners Keith and Yvonne Povah lost control of it in 1991 when Barclays Bank, which had a £250,000 second mortgage on the hotel, called in the receivers. The Halifax building society was owed a further £1.1m on the hotel.

The Povahs stayed on for another year as managers at the hotel, reporting to the receiver at Grant Thornton. Mr Povah is now general manager of the Orion apartment-hotel which opened recently in central London.