Hotel chain goes into administration
The owner of one of Gloucestershire's best known hotels, the Cheltenham Chase, has gone into administration.
But yesterday a spokesman said a refinancing package would mean it was business as usual for hotel staff and customers.
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The four star Chase Hotel is one of 21 hotels owned by the QHotels Group which has been placed in administration and replaced by a new company.
The Cheltenham Chase at Brockworth has 122 bedrooms and previous visitors have included the cast of the Harry Potter films and the Princess Royal.
A spokesman for QHotels said it had agreed a revised three year refinancing arrangement with Irish Bank Resolution Corporation Ltd to enable it to development and invest in the business.
"As part of this refinancing QHotels Group has been placed in administration and replaced for all group companies by a new holding company, QHotels Holdings, all other group companies are unaffected.
"This change in group holding company will have no impact on staff, customers or suppliers and the QHotels business will continue as normal.
"The QHotels business will continue to be led by Michael Purtill, managing director, and Ian Golding, finance director.
"Tim Scoble has been appointed chairman."
Meanwhile, Hatton Court Hotel, near Gloucester says it saw a massive 34% increase in sales throughout December due in particular to the success of its "all-inclusive" Christmas party package.
"We are absolutely ecstatic with the success of our 2012 Christmas program and are already planning for Christmas 2013" said general manager Simon Hanna."
In the last two years Hatton Court Hotel, part of the Hatton Collection, has spent over £1 million on refurbishment of the Tara Restaurant, 30 bedrooms, executive meeting rooms and public areas.
"We are very optimistic for 2013," said Mr Hanna.