Directors of Dawnay Shore Hotels resign

24 July 2008 by
Directors of Dawnay Shore Hotels resign

Guy Naggar and Peter Klimt have resigned as directors of Dawnay Shore Hotels, which plans to change its name to Puma Hotels in a bid to distance itself from beleaguered financial services conglomerate Dawnay Day Group.

Howard Shore, current chairman of Shore Capital, has been appointed as its new chairman with Jonathan Paisner, executive chairman at the investment banking group also appointed to the board as a director.

In a statement by its 49.9%-shareholder, The Hotel Corporation, Dawnay Shore Hotels also said it has terminated the engagement of Dawnay Day Hotels as its asset manager and appointed Shore Capital in its place.

Dawnay Shore Hotels also revealed plans to change its name to Puma Hotels, in what is likely a move to further distance itself from the woes of Dawnay Day Group, which has called in the administrators to significant parts of its £2b plus portfolio.

Dawnay Day representative Alka Bali has quit his role at the Real Hotel Company earlier this week and non-executive director Kwai Chai Wong is also considering its position, after the private equity firm sold off its shares in the Purple hotels owner last week.

Real Hotel Company boss says business as usual despite share fall >>

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

Dawnay Day reviews investments >>

By Gemma Sharkey

E-mail your comments to Gemma Sharkey here.

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