Around 1,200 jobs have been saved at Folio Hotels following a management buyout of 18 out of the chain's 36 hotels, hotel insurance customers may be interested to learn.
Folio has been rescued from administration following the buyout by new company Mulbourn Limited funded by landlords, the management team and private equity.
The hotels will continue to trade under the Folio Hotels banner and the new firm will be led by managing director Matthew Welbourn and finance director Alan Murray, who previously held similar positions.
Hotel insurance customers could be interested to know that the hotels which will be saved in the deal include Harpenden House in Hertfordshire, Harte & Garter Hotel, Windsor, and Richmond Gate and Richmond Hill hotels in south-west London.
This week, it was announced that Millennium and Copthorne will open two new hotels in Liverpool in 2012, creating more than 200 new jobs in the city.
