QHotels Announces New Banking Facilities

MANCHESTER, England, January 16, 2013 /PRNewswire/ --

The QHotels Group is pleased to announce that a revised three year refinancing arrangement has been agreed with Irish Bank Resolution Corporation Limited enabling the QHotels Group to continue its successful programme of business development and investment.

As part of this refinancing, QHotels Group Limited, the original group holding company, has been placed into administration and replaced for all group companies by a new holding company, QHotels Holdings Limited; all other group companies are unaffected.  This change in group holding company will have no impact on staff, customers or suppliers and the QHotels business will continue as normal.

The QHotels business will continue to be led by Michael Purtill, Managing Director and Ian Goulding, Finance Director.  In addition, Tim Scoble has been appointed Chairman of QHotels Holdings Limited.  Tim has previously held a number of senior management roles in the leisure sector, both in the UK and internationally.

Notes to Editors:

A little bit about QHotels:  

• QHotels was founded in 2003 by Managing Director, Michael Purtill; Finance Director, Ian Goulding and investment company, Alchemy Partners
• QHotels takes great pride in its collection of 21 carefully nurtured, unique hotels throughout the UK. Some hotels hide away in the most beautiful countryside, some preside over bustling city centres, but each with its own individual character - ensuring guests enjoy a truly unique experience whether  staying for business or pleasure
• The QHotels collection grew from two to 21 hotels between 2003 and 2010
• For a second consecutive year, in January 2013, QHotels have been awarded the No.1 hotel brand in the Large Groups category of the VenueVerdict Awards.
• In addition three QHotels' - The Westerwood Hotel and Golf Resort, The Oxford Belfry and The Stratford - have been honoured with VenueVerdict Gold Standard Accreditation
• QHotels was ranked 5^th in the Which? Travel Magazine survey of UK hotel chains (2012)
• In April 2011, QHotels, invested £1.7m into its IT facilities, making it one of the first hotel groups to provide guests with free, unlimited internet access and offer a massive 90 megabits per second (Mbps) dedicated bandwidth for conferences
• The collection of hotels was voted AA Eco Hotel Group of the Year 2011 and the top hotel group in the Carbon Reduction Commitment category of the VenueVerdict Awards, and the group also came out on top in BDRC Continental's Meetings Benchmark Tracker (CRC) League Table 2011.
• Take a look at our website http://www.QHotels.co.uk

SOURCE QHotels