David Guile is to step down as chief executive of Macdonald Hotels & Resorts after six years in the role.
His position will be taken by Donald Macdonald, the executive chairman and founder of the company, who has decided "against appointing a direct replacement at this time".
Guile joined Macdonald Hotels & Resorts in 2000 as regional managing director for the south of England, from Heritage Hotels (part of the Forte Group), where he was regional director.
During his time with Macdonald Hotels, the company has been twice named AA Hotel Group of the Year, in 2008 and 2014. Today the group owns and manages 46 hotels and resorts (41 in the UK, four in Spain and one in Portugal), with a combined annual turnover of £139m. However, it reported a £6.1m loss after exceptional bank charges and asset impairment charges of £9.5m for the year ending 28 March 2013. Operating profit increased 7% to £14.9m.
In April the company announced it had secured financial backing from the Lloyds Banking Group to the tune of £299m, over a five year period.
David Guile said the decision to leave the company has been "the toughest decision in my career". However, he went on to say that the felt the time was now right to move on and pursue other interests.
"I have been privileged to lead a fantastic team of people to success and I would like to thank them for their support and contribution in developing Macdonald Hotels into the leading quality brand that it is today.
"Following the recent refinancing with Lloyds Banking Group and our continued positive trading performance, the company is well placed for its next phase of development and I wish all involved with the company every success for the future".
Macdonald, added: "I would like to thank David both as a friend and colleague and on behalf of the company for his substantial contribution over 13 years with the company. David has built and led a talented team of executives and I look forward to continue helping them realise their potential and taking the company to even greater success in the future. It has been a privilege to work with David and I wish him every success in his future career.
"At the time of our result's announcement in December last year, I said that our company has never been better placed in terms of its people, its product and its financial stability and that statement is strengthening each week that passes."
Guile will remain with the business for a short handover period.