The owner of a luxury hotel in Cheltenham that has fallen into administration has blamed the collapse on Russian banks, including state-owned Otkritie.
Lethendy Cheltenham Limited, which trades as the DoubleTree by Hilton Cheltenham, was placed into administration on May 19. It is one of four hotels owned by Lethendy Estates - a UK-based holding company that owns and operates hotels around the country under different brand names.
The company's portfolio includes Double Tree by Hilton Elstree, Double Tree by Hilton Stoke on Trent, Double Tree by Hilton Cheltenham and Holiday Inn Bolton. Lethendy Estates is also part of the MF Trust, the settlor of which is Russian former billionaire and Vladimir Putin critic Dr Boris Mints.
