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Hotel group for high rollers goes into administration
Sunday, 21 Apr, 2011
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Upmarket hotel chain Von Essen, which owns the iconic setting for the 1960s Profumo affair, Cliveden, has gone into administration.
Cliveden
The group, which has 28 hotels across the UK and France, has appointed Ernst & Young to tackle the fall out.
However, the hotels will continue to operate as it is the group rather than the individual properties that have run into trouble.
Ernst and Young’s Angela Swarbrick said: “It is business as normal for the hotels and customers of Von Essen Hotels can continue to enjoy their stay.”
It is thought the group has been experiencing difficulties after acquiring a large number of properties in a short space of time. It also relied heavily on high-spending individuals opting to stay in provincial areas and to pay top dollar for it – a tricky strategy during a recession.
Hotel industry insiders believe the hotels will be sold off individually.
by Dinah Hatch
Dinah
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