Last Real Hotel Group property sold by administrators
Real Hotel Group which went into administration just over a year ago - has been sold for an undisclosed sum to Mark Kotecha of Supportico.
The 96-bedroom hotel is a B-listed building with a bar, restaurants and meeting rooms. With a turnover of £890,000 in 2008, the hotel stands on two acres of land and has planning concent for further development.
Edward Symmons' Hospitality & Leisure Division has acted for BDO LLP since the administration of the Real Hotels Group in January 2009 and has sold the New Connaught Rooms in London, the Quality hotels in Birmingham, Sunderland and Norwich and the Central in Glasgow.
"The completion of this sale demonstrates the improving appetite of cash buyers in the market for distressed assets," said Hugh Anderson, partner at Edward Symmons.
The Real Hotel Group collapses into administration >>
Six former Real Hotel Group hotels up for sale >>
Choice Hotels International ends franchises with Real Hotel Group >>
By Janet Harmer
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