Dawnay Shore Hotels (DSH) has played down fears that an emergency review of assets initiated by investment firm Dawnay Day will impact its 20 hotels.
Dawnay Daw today called in administrators from Ernst & Young to carry out the review after failing to raise the funds it needs to keep the company afloat, but DSH issued a statement confirming the investment firm only has an 8% stake in DSH.
DSH, a joint venture with Shore Capital, owns high profile properties such as the Lygon Arms in the Cotswolds and the Carlton in Edinburgh. The 20 hotels are operated under DSH's tenancy by the Barceló Hotels and Resorts.
A spokesman for Barceló said: "DSH is independent of the ownership of Dawnay Day and the operation of Barceló Hotels in Britain is unaffected."
By Daniel Thomas