A LANDMARK hotel in Birmingham city centre is seeking a new buyer after the company which holds its freehold went into administration.
The Hyatt Regency, off Broad Street, and the Waldorf in London’s West End have come under the control of administrators at Ernst & Young and KPMG respectively.
Both sites are part of the hotel business empire of the Bhatia family in India.
Diana Frangou and Ian Best, of Ernst & Young, have today been appointed joint administrators to Hyatt Regency Birmingham Ltd.
The company owns the freehold to the Broad Street hotel, which is operated by Hyatt Holdings (UK) Ltd under a long term hotel management agreement.
The administrators said today Hyatt Holdings (UK) Ltd is not in administration and there will be no impact to the day to day running of the hotel.
Joint administrator Ms Frangou said: “We have the full cooperation of Hyatt Holdings (UK) Ltd, the operating company, and will be working closely with them to ensure that it is business as usual while we seek a buyer for the hotel as a going concern.”
The 24-floor hotel has 319 rooms and sits next to the International Convention Centre and Symphony Hall.
It is a popular destination for visiting dignitaries, such as the Tory Party Conference last October, partly because of its private direct bridge link to the ICC across Broad Street.
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