Two Niche Hotels in administration
The managing director of luxury group Niche Hotels has officially confirmed that two of its properties are now in administration, as revealed first on Kitchen Rat last month.
Both Niche's Wyckhillhouse hotel and spa in Stow-on-the-Wold and the Royal hotel in Cardiff have been placed into administration, after falling consumer spending and ongoing refurbishment programmes at the properties landed them in financial difficulties.
Alan Corlett, managing director of the hotel group, said while the two properties were "trading as going concerns" the remainder of the hotels in the group were trading as usual and Niche remained financially sound.
Corlett said: "The administrators at MCR will now decide what the best course of action will be for the two hotels in question]. Although it's out of my hands, I'd obviously like them to stay within the Niche Hotels fold."
The news follows the revelation that high-profile downturn casualty Folio Hotels is to be rescued from administration by the end of the week in a deal that will see Bespoke Hotels taking on the running of 13 sites.
Read our Kitchen Rat blog here>>
Who's who… Niche Hotels>>
Niche hotel sale signals>>
Folio Hotels to emerge from administration this week>>
By Gemma Sharkey
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