One of Cheltenham's most prestigious hotels has gone into administration after suffering cash flow problems due to a downturn in business.
The Hotel, a 12 bedroom, Grade II listed, boutique property in the Pittville area of the town, had been placed on the market with Colliers International for £2.6m, at the end of last year.
It is a member of Pride of Britain Hotels and Small Luxury Hotels of the World. Parkers, the hotel's 42-seat restaurant, was named Restaurant of the Year in 2006 by Cotswold Life.
Matt Bond and Ben Wiles of financial advisors Duff & Phelps, who have been appointed as joint administrators of HTLP, the parent company of The Hotel, intend to continue to trade the business as usual, whilst seeking a buyer for the property.
Peter Brunt, director of Colliers International described The Hotel, which dates back to the 1830s as "a luxurious oasis of calm right in the centre of Cheltenham".
The property has recently undergone a complete refurbishment with the installation of bathrooms which feature whirpools, aromatherapy, chromotherapy and infinity baths.
For further details, contact Brunt on 0117 917 2000.