Liquidations in London Hotelling Sector

Morgan hotel group to sell Sanderson and St Martins hotel 

For Q2 (Jun '11), It had a Net profit margin of -21.77%, an Operating margin of -0.35%. Other Key stats and ratios are : Return on average assets of -7.30%. The organization has an employee strength of 4,600

Fewer stars, less success

Though demand for London’s most opulent hotels appears to be insatiable, lower down the AA’s star ratings, many hoteliers are faring less well. A wave of businesses have gone to the wall, among them von Essen hotels, which included Cliveden, the Berkshire stately home at the centre of the Profumo affair. This month Menzies Hotels, which operates 16 four-star properties, was acquired in management buyout after its parent group, owned by property tycoon Robert Tchenguiz, fell into administration.

Jarvis Hotels, which runs 40 Jarvis sites and a further six Ramada hotels, remains in protracted restructuring talks with its lenders after dire trading left it unable to meet loan agreements. State-controlled Royal Bank of Scotland and others are expected to take control of the business shortly. The expected deal will echo the painful £650m debt for equity swap agreed at De Vere, which operates almost 70 hotels. Control of De Vere passed to Lloyds Banking Group, another taxpayer-backed lender, last year.