A top hotel at Manchester airport has been saved from going into administration at the last minute by a new deal.
The luxury hotel, Etrop Grange, has been based at the airport for a number of years and hosted thousands of business people and celebrities. It will be one of 18 hotels under the Folio brand bought out by Mulborn Ltd, although it will continue to operate under its existing name.
The 100 staff members of the hotel breathed a sigh of relief as the deal was reached. General Manager of Etrop Grange, John O’Reilly said “it is very much business as usual as far as we are concerned”.
The deal is good news amidst a wave of businesses and retailers going into administration as the country heads deeper into an economic recession.
Clothing retailer Morgan went into administration at the end of December and on Christmas Eve, music and games company, Zavvi followed the same route. At the end of November Southampton’s historic Dolphin hotel demonstrated that hotels are no longer safe as it too brought administrators in to try and sell the business.
Etrop Grange joined other Folio hotels around the country who were celebrating the news.
In total 1200 jobs were saved and the new company is forecasting a £48 million pound turnover in its first year of trading. The sales director said that “all existing bookings will be honoured”.
Another company, Bespoke Hotels will manage a further thirteen hotels which were also part of the Folio brand.