Folio Hotels News
Akkeron Hotels: New UK hotel group formed
A new hotel group called Akkeron Hotels has been formed following the purchase of eight former Folio hotels. The new group intends to build up a portfolio of up to 150 regional hotels across the UK.
MBO saves Folio Hotels
A management buyout has saved 1,200 jobs at Folio Hotels, the UK hotel chain which went into administration last month.The group, which operated 36 hotels across the UK and a turnover of £70m, blamed high rents and an expensive refurbishment programme for its difficulties. It also said it was burdened with big rents that were negotiated at the height of the market.