Dawnay Day representative quits Real Hotel Company

22 July 2008 by
Dawnay Day representative quits Real Hotel Company

Dawnay Day representative Alka Bali has quit his role at the Real Hotel Company (RHC) after the private equity firm sold off its shares in the Purple hotels owner last week.

Bali was a Dawnay Day representative at RHC and an alternate director to Kwai Choi Wong.

Non-executive director Wong, who is a director of Dawnay Day Principal Investments, is also considering his position as a result of the share disposal. His current contract ends this month.

Michael Prager, chief executive of RHC, said that both were of "the highest calibre".

Prager said: "If it's not impossible I'd like to retain them on a personal basis. I'm sad to see it happen, but it's a sign of the present times."

Last week RHC's share value crashed 22% to close at 7.75p after major shareholder Dawnay Day disposed of £1.1m of its shares in the company after a review of its own business.

RHC recently exited London's hotel market, after the sale of three of its hotels to Whitbread.

The group currently has hotels set to open in Sheffield, Chester, Ipswich Liverpool and Hemel Hempstead.

Dawnay Shore Hotels says review will not affect its hotels >>

Dawnay Day reviews investments >>

Real Hotel Company to quit London >>

Whitbread pays almost £20m for three Premier Inn London sites >>

By Gemma Sharkey

E-mail your comments to Gemma Sharkey here.

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