West Midland hotel saved in administration buy-out
A WEST MIDLANDS hotel has been sold out of administration in an undisclosed deal which secures the jobs of 35 staff.
The Ramada Birmingham Hotel and Conference Centre in Oldbury has been sold by joint administrators David Bennett and Joe McLean, of Grant Thornton in Birmingham, to Wolverhampton businessman Gurjit Mahal.
The 81-bedroom hotel is the third and final hotel in the Fortmere Group portfolio to be saved after the group lapsed into administration last year.
The administrators secured the sale of the Ramada Warwick Hotel and Conference Centre at Kenilworth from Fortmere to Wise Hotel Ltd in December. The deal had been preceded by the sale in November of sister hotel Ramada Park Hall in Wolverhampton.
The trio of deals has succeeded in safeguarding more than 160 jobs.
Mr Bennett said: “We are delighted to have sold the Ramada Hotel and Conference Centre, which is well situated for corporate, tourist and event trade. It is particularly pleasing to sell the hotel to a local entrepreneur who will take the business forward into the future.”
The deal is a boost to the hotel sector, which has been left reeling from speculation budget hotel group Travelodge could be set for a change of ownership.
