Le Meridien sale will not affect meetings

Event organisers holding meetings at any of hotel chain Le Meridien’s UK properties can expect "business as usual", the troubled group has pledged. Delegates and guests will face no upheaval, according to PR director Julia Clark, despite the Royal Bank of Scotland’s decision to regain control of ten hotels in the UK and one in Ireland, after Le Meridien Hotels failed to maintain rental payments. The properties are owned by RBS under a sale and leaseback agreement, and will move out of the Le Meridien brand over time. RBS has placed two properties, London’s Grosvenor House and The Waldorf, into administrative receivership, appointing US restructuring consultancy Kroll to safeguard cash flows. Kroll has promised that services will continue during the transition. Waldorf general manager Amanda Scott confirmed the hotel’s refurbishments would be completed, including the addition of two conference rooms, by the end of the year. Hotel chain Hyatt could take over management of Le Meridien’s 126 overseas hotels, as part of a rescue plan put forward by US investment bank Lehman Brothers, although Le Meridien would retain its branding.

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