Hollybourne Hotels, a group of five three-star properties in Hampshire and Surrey, has gone into administration after failing to agree credit terms with its lender.
Zolfo Cooper, the administrator, intends to continue to trade the hotels as normal and honour all existing bookings, including an extensive number of weddings and events.
The five affected hotels, which employ a total of 200 staff, are Alton House, Alton, Hampshire; the Red Lion, Basingstoke, Hampshire; Manor House, Guildford, Surrey; Georgian House, Haslemere, Surrey and Farnham House, Farnham, Surrey.
After Hollybourne failed to agree credit terms with its lender, administration was regarded as being the only option to preserve value and to allow the businesses to continue to trade.
Nick Cropper, partner at Zolfo Cooper, said: "We believe the hotels are attractive to a range of potential buyers and we will bring the hotels to the market in due course.
"We would also like to thank the staff for their continued support and professionalism during this process."