Hampshire: Hollybourne Hotels group goes into administration

Hollybourne Hotels, a group of five three-star properties in Hampshire and Surrey, has gone into administration after failing to agree credit terms with its lender.

Administrator Zolfo Cooper said the hotels would continue to trade as normal. Existing bookings such as weddings and business events would be honoured.

The five hotels, which employ a total of 200 staff, are Alton House, Alton, Hampshire; the Red Lion Hotel, Basingstoke, Hampshire; Manor House, Guildford; Georgian House, Haslemere; and Farnham House, Farnham.

After Hollybourne failed to agree credit terms with its lender, administration was regarded as being the only option to preserve value and to allow the businesses to continue to trade.

Nick Cropper, partner at Zolfo Cooper, said: “We believe the hotels are attractive to a range of potential buyers and we will bring the hotels to the market in due course."