Waldorf Hotel Investment Limited (04216905): administration
- Status
- Administration ended
- Administration began
- 2011-05-05
- Administrators
- Richard Dixon Fleming, James Robert Tucker
- Administrators' firm
- KPMG
- Formerly
- RBS Hotel Investments No 10 Limited
- Incorporated
- 2001-05-15
- Location
- London
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Property / lease costs
From the administrators' statement
The Secured Creditors entered mto a facility agreement with Choicezone in November 2007 to part fund the purchase of the Hotel
Waldorf owns the freehold of the Hotel which 1s subyect to a 30 year lease (20 years unexpired) to Adda Hotels Limited (a Hilton Group company) Under the lease a variable rent, calculated with reference to EBTDAR, 1s payable The lease 1s not affected by a change of ownership or an insolvency of Waldorf
The 2007 purchase transaction saw £175 million paid plus costs funded by £111 million of secured bank debt and some £65 million unsecured intercompany debt provided by Muirgold Limited (a conporate unde: the ultimate ownership and control of the Director the ultimate owner of Chorcezone)
Administrators' statement of proposals (2011-07-05) · Companies House register