Tony Barrell and Matthew Hammond of PWC were yesterday (12 May) appointed joint administrators.
Barrell said: "After an extensive period of marketing the business, using Christie & Co, we are pleased to announce the immediate sale of the Mount Hotel to Aspen Leisure.
"Blue Cedars Leisure faced severe cash flow difficulties due to the current economic climate and had difficulties in meeting its financial obligations."
The company’s 56 staff will remain.
The Mount Hotel & Conference Centre is in Wolverhampton and features 15 conference rooms for up to 200 delegates.