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Monday, 27 June 2011

Birmingham Hyatt Hotel in Administration

One of Birmingham's landmark hotels, The Hyatt in the city centre, went into administration on Friday.  The administrators are Ernst & Young and they said in a statement that the hotel will continue to trade as normal while a buyer is sought.  According to reports, it is understood that the owners, the Bhatia family, who own the Waldorf in London, also in administration, will look to buy one or both of the hotels back from the administrators.

Of course, the Bhatia family will need to pay the market price for the hotels otherwise they would fall foul of s238 of the Insolvency Act - Transactions at an undervalue. 

The Birmingham 24-floor hotel has 319 rooms and sits next to the International Convention Centre and Symphony Hall.  It hosted the Tory Party Conference last October.

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