Richardson Hotel Group puts four sites up for sale

By Sophie Witts contact

- Last updated on GMT

The Grand Hotel in Torquay is up for sale
The Grand Hotel in Torquay is up for sale

Related tags: Cornwall

The Richardson Hotel Group, owner of the John Burton-Race –Restaurant with Rooms, has put four properties on the market after falling in to administration.

The sites up for sale are the Grand Hotel in Torquay, the Metropole in Padstow, the Falmouth Hotel in Falmouth and the Fowey Hotel in Fowey.

Richardson Hotels Limited and Fowey Hotel Limited – which are subsidiaries of the Richardson Group - fell in to administration​ in January.

The six-strong group includes the John Burton-Race - Restaurant with Rooms, which re-branded in December following a six-figure investment.

The South West hotel chain’s owner Keith Richardson previously told Devon Live​ the cost of the refurbishment had caused the rest of the business to fall in to difficulty.

Colliers International has been instructed by joint administrators Mark Boughey and Matthew Wild of RSM Restructuring Advisory LLP to sell the four sites.

“These landmark properties occupy outstanding positions in some of the best loved West Country resorts,” says Colliers International Hotels director Peter Brunt.

“Individually, they have dominated their local hotel landscape for years and now offer once in a lifetime opportunities for operators to complement an existing portfolio, or to create a fantastic new portfolio.”

John Burton-Race - Restaurant with Rooms and the Royal Beacon Hotel in Exmouth are not on the market, despite also falling in to administration.

All hotels continue to trade on a business as usual basis.

Related topics: Business & Legislation

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