Real Hotel Group has shares suspended from AIM

13 January 2009 by
Real Hotel Group has shares suspended from AIM

The Real Hotel Group has had its shares suspended from the Alternative Investment Market (AIM)

In a statement the owner of the Purple budget hotel brands said: "The Company has requested a suspension, with immediate effect, of trading of its ordinary shares on AIM, pending clarification of the Company's financial position."

The Real Hotel Group (RHG) is already locked in crisis talks with the banks after issuing its second profit warning in the space of a week.

In its most recent profit warning the struggling hotel company said revenues from continuing operations had dived 34% during the first week of January, mainly as a result of a reduction in occupancy and related food sales.

RHG said it would issue an update as soon as possible.

Last week restaurant-cum-fishmongers FishWorks requested the suspension of its shares from AIM as it sought to clarify its financial situation.

Niche Hotels currently has two properties in administration but Folio Hotels, which collapsed in December, has now emerged from administration with a new team in charge.

On Monday Enlighten Inns saved two thirds of Devon-based pub group Peninsula's sites as part of a management buy-out.

Real Hotel Company boss says business as usual>>
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By Chris Druce

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