A luxury hotel in Cheltenham has collapsed into administration, BusinessLive can exclusively reveal.
Lethendy Cheltenham Limited, which trades as the DoubleTree by Hilton Cheltenham, was placed into administration on May 19 with Chris Newell, Nick Parsk, and Louise Durkan of business advisory firm Quantuma appointed as joint administrators.
Established in 2015, the traditional Georgian manor house hotel, on Cirencester Road, was the first in Hilton’s portfolio to open in Cheltenham, and underwent a full refurbishment in 2017.
According to the administrators, the hotel is currently trading profitably, and Quantuma is planning to continue running the business while it looks for a buyer.
BusinessLive understands no jobs are currently at risk following the collapse.
Chris Newell, managing director at Quantuma, said: “The hotel is currently operating as per usual and we are confident that it will remain profitable while it continues to trade under the control of the joint administrators."
He added: "Alongside Nick and Louise, we are dedicated to ensuring that a suitable buyer is found and that the best outcome is delivered for all parties involved.”
The news comes just two months after The DoubleTree by Hilton Cheltenham announced it would be hosting families displaced from their homeland because of the war with Russia. According to BusinessLive 's sister sister GloucestershireLive , the hotel said it would not charge the refugees for staying.
The hotel is one of four owned by Lethendy Estates - a UK holding company that invests in hotels - opening its doors to help people displaced by the war. A spokesperson for Lethendy said in March its hotels would provide accommodation, food, and essential items to the families.
It is not yet clear what will happen now Lethendy Cheltenham Limited has entered administration, however. Quantuma has been asked for further comment by BusinessLive .
