Folio Hotels in administration

Folio Hotels has called in the administrators because of a sharp decline in trading, reports The Times.

The group, set up in 2004, by the former managing director of Corus Hotels and Martyn Levitt, the former finance director of Firmdale Hotels, runs 36 hotels including the Harte & Garter in Windsor and Richmond Hill hotel, Richmond.

Folio, which leases its hotels, had been in discussions with its landlords over a rent holiday to allow it to continue trading.

However, a decision by the owner of nine hotels – believed to be the Landesberg and Rosenberg families, who also own Admiral Taverns – to pull out of negotiations is said to have prompted the move to appoint MCR.

The group was founded in November 2004 by Nicholas Crawley, the former managing director of Regal/Corus Hotels and the Scotsman Hotel Group, together with Martyn Levitt, the former finance director of Firmdale Hotels.

Last week Folio Hotels won the Young People Award at the Springboard Awards for Excellence.

Read the Times article in full >>

Harte & Garter, Windsor >>

Folio Hotels buys ex-Swallow hotels in the Highlands >>

Folio adds 19 more hotels to its collection >>

Ex Corus bosses take over five hotels >>

Folio Hotels Limited profile >>

By Chris Druce

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