The Eden Hotels group, based in Playa de Muro, and with two hotels in Puerto Alcúdia and one in Playa de Muro, has applied for receivership on account of cash flow difficulties. The purpose is to try and reach agreement with creditors and the measure is intended to be only temporary as part of a process to rectify the group's financial position. Jobs are said to be unaffected and not threatened, while the hotels also continue to operate.
See more: Diario de Mallorca
Showing posts with label Receivership. Show all posts
Showing posts with label Receivership. Show all posts
Friday, April 20, 2012
Tuesday, August 30, 2011
MALLORCA TODAY - Bellevue to be split into two hotels?
The ongoing judicial saga relating to the financial and administrative affairs of the Hotetur hotel chain and its wholly-owned management company White Horse has taken a new turn, one that specifically relates to the giant Bellevue complex in Puerto Alcúdia.
An agreement appears to have been reached between the Blue Bay group (Al Andalus Management) which is currently running Bellevue and the Luabay hotel division of the Orizonia travel group.
Orizonia has been pressing its claims on Bellevue. These relate to a debt owed to Orizonia of 40 million euros that had been taken on by the previous owners of Hotetur, the now defunct Group Marsans, and for which Bellevue was the guarantee; Hotetur was acquired by the investment group Posibilitum, now the ultimate owners of Bellevue.
A resolution, in the form of the proposed agreement which seems likely to be accepted by both the receivers for Hotetur and the judge overseeing the case, will see Blue Bay and Luabay jointly run the Bellevue site. Moreover, it is understood that documents have been lodged with the Balearic Government's tourism ministry which would enable the complex to be split into two "hotels", albeit that the use of the word hotels is somewhat misleading, given that Bellevue is a series of individual blocks of apartments.
An agreement appears to have been reached between the Blue Bay group (Al Andalus Management) which is currently running Bellevue and the Luabay hotel division of the Orizonia travel group.
Orizonia has been pressing its claims on Bellevue. These relate to a debt owed to Orizonia of 40 million euros that had been taken on by the previous owners of Hotetur, the now defunct Group Marsans, and for which Bellevue was the guarantee; Hotetur was acquired by the investment group Posibilitum, now the ultimate owners of Bellevue.
A resolution, in the form of the proposed agreement which seems likely to be accepted by both the receivers for Hotetur and the judge overseeing the case, will see Blue Bay and Luabay jointly run the Bellevue site. Moreover, it is understood that documents have been lodged with the Balearic Government's tourism ministry which would enable the complex to be split into two "hotels", albeit that the use of the word hotels is somewhat misleading, given that Bellevue is a series of individual blocks of apartments.
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