Hotel Corp Share Discussion Threads

[the stigologist] 18/9/2014 08:06

do you remember that time when the media was full of 'i agree with nick' ?

a long time ago now and that nick is derided as an idiot now

amazing how opinions can change

[nick rubens] 18/9/2014 08:01

Not Game over at all, rather a new game just started now that the Hotels side is out of the equation.

It's officially to be a cash shell, and that has it's own attractions as we have seen numerous rimes before.

[ukmassy] 17/9/2014 22:10

Another Trickledown success.

[the stigologist] 17/9/2014 19:14

it becomes a shell but with a shareholder base who were expecting some charity from lone star so they will be disappointed and probably net sellers over time creating an overhang

and the principals aren't renowned shellmeisters so no knowing if they can pull off a good shell deal or not

[21trader] 17/9/2014 17:16

So does it become a shell now stiggy ?

[the stigologist] 17/9/2014 16:53

'no return to bondholders'

[the stigologist] 17/9/2014 16:53

game over

17 September 2014

The Hotel Corporation plc
("HCP" or the "Company")

Update on the administration of UK Group of Hotels plc


Further to its announcement of 6 August 2014, the Company today announces an update on the administration of UK Group of Hotels plc ("UKGH", formerly Puma Hotels plc), in which the Company holds a 49.92 per cent. interest. Duff & Phelps Ltd ("Duff & Phelps") were appointed as joint administrators of UKGH on 4 August 2014, following its rebranding after the acquisition of its senior debt by LSREF III Wight Limited ("Lone Star") from Irish Bank Resolution Corporation Limited

The Company has now been informed by Duff & Phelps that they have also been appointed joint administrators of 18 further subsidiaries companies of UKGH, including all of the entities holding the 21 hotels within UKGH. Accordingly, all of UKGH's assets and business, including the hotels, have now been sold in pre-packed sales to new entities which are ultimately controlled by Lone Star funds.

Duff and Phelps have advised the Company that based on the realisations from the hotels, there is not expected to be any return to the shareholders of UK Group of Hotels. At the same time they have also confirmed that UK Hotels (Finance) plc (formerly Puma Hotels (Finance) plc) has been placed in to administration and there is not expected to be any return to the bondholders.

The Company expects to announce its interim results for the six months ended 30 June 2014 later in September 2014.

[the_beagle] 15/9/2014 09:19

mega.....You have got to remember that whatever happens to "Puma" it can't be bad for HCP. We own 49% of a potentially great hotel group but with absolutely NO obligations towards it.

If there is no value in Puma so be it. We are still a clean shell standing at about cash value.

What is there not to like?

News any day now imo even if just a holding RNS following Friday's 2.6% trade.

[mega_trader] 13/9/2014 21:28

I think the keyword here is flat pack. that usually means investors get nothing, a bit like game group.

hcp's hands were tied when shore built up a 51% puma +22% hcp stake in puma hotels to become majority stake holder on the cheap as a strategic precaution incase things turned ugly so he could out vote any objections to the flatpack.

so not sure theres much left for share holders, if anything.

[bckttsim] 12/9/2014 14:18

The debt that has been written off has cost loan star nothing so far, they bought it at a huge discount.So it will be interesting if they stitch us up.I really hope our directors were in on this pre packed administration, if they were not we need new ones.

[the_beagle] 12/9/2014 14:04

I think the company will have to RNS what has gone on in the last few days especially if "Puma" or "The Collection" is out of administration. However it took three days for them to report the entry, so it might be next week now.

Also today's trade of 2.6% of the issued share capital must surely have taken someone over or under a declarable interest.

This time next week I can see us being much higher when the news sinks in. We more than halved when the administration news came out so a good gain is in prospect imo.

DYOR etc. TB.

[bckttsim] 12/9/2014 14:01

Thought there might of been a bit of interest in this today.
However AIM market seems dead.
Perhaps they have taken all the money again so no ones got any to trade.
All they are all fed up and have gone to main market.

[john168] 12/9/2014 13:19

Those people Mark & Michael are very clever, they cannot lose whatsoever their purposes, NAV (cash) of HCP is 1.29p/share.
American are very aggressive, but Puma Hotels owed HCP bonds (discounted when purchased) about £1.2m, so the face value could be higher, that is what I believe HCP can lay a claim on the Hotel Collection, IMHO.

[bckttsim] 12/9/2014 13:10

Fears over the future of historic hotels including the 16th century Lygon Arms, in the Cotswolds, and The Majestic Hotel in Harrogate have been dispelled following a restructuring led by the US investor Lone Star Funds.The 21 hotels that make up The Hotel Collection, which recently changed its name from Puma Hotels, are understood to have shed at least a third of their £350 million debt burden after emerging from a pre-pack administration.Lone Star, which recently bought the debt from Irish Bank Resolution Corporation, has appointed Grant Hearn, the former Travelodge chief executive, as chairman and is planning to invest tens of millions of pounds in refurbishing the underinvested properties.The group, founded a decade ago by Howard Shore, of Shore Capital, also owns regional hotels including The Palace Hotel in Buxton, The Imperial Hotel, Blackpool, and The Carlton Hotel in Edinburgh.Its most famous property is the 70-room Lygon Arms, in the village of Broadway. Established in 1532, it is reputed to have played host to King Charles and Oliver Cromwell during the Civil War, while William Shakespeare was a regular visitor.Duff & Phelps, which handled the administration process, said the successful restructuring had preserved 2,200 jobs, while all bookings and deposits would be honoured.Mr Hearn, who is also a non-executive director of Poundland and Scandic Hotels, quit Travelodge a year ago after a decade at the helm following the completion of a similar financial restructuring.He said he expected to devote two to three days a week to his new role, working alongside Fredrik Korallus, chief executive of The Hotel Collection, to formulate a three-year investment programme aimed at boosting performance.

[bckttsim] 12/9/2014 12:50

Now , if third of debt is written off then HCP are still Owed £10 mil.That's 10x share price.No wonder there has been stake building .

[bckttsim] 12/9/2014 12:33

This is take from LSE board........interesting HCP looks to be moving up. Professional investors are building sizeable stakes - Michael Jivkov, hedge fund guy with 8pct, and Mark Jackson, via various investment companies, with 5pct. Yes Puma Hotels are in administration but HCP is owed over 15m quid or over 30p per share by Puma Hotels. The result of the administration process will be interesting!These may have big potential after all.

[the_beagle] 12/9/2014 11:48

They certainly can't lose! Great news imo.

[bckttsim] 12/9/2014 11:33

Will HCP get anything out of this I wonder ?

[bckttsim] 12/9/2014 11:32

Part of story from The Times today.Fears over the future of historic hotels including the 16th century Lygon Arms, in the Cotswolds, and the Majestic in Harrogate have been dispelled following a restructuring led by the US investor Lone Star Funds.The 21 hotels that make up The Hotel Collection, which recently changed its name from Puma Hotels, are understood to have shed at least a third of their £350 million debt burden after emerging from a pre-pack administration.Lone Star, which recently bought the debt from Irish Bank Resolution Corporation, has appointed Grant Hearn, the former Travelodge chief executive, as chairman .

[bckttsim] 12/9/2014 11:27

The other news came from Meetie Pie

[bckttsim] 12/9/2014 11:26

News in The TimesPosted on Twitter by Hotel Collectionhttp://www.thetimes.co.uk/tto/business/industries/leisure/article4204508.ece

[the_beagle] 12/9/2014 11:21

BCKTTSIM .Thanks a lot for that. May I ask where it came from? Trade magazine?

I like the bit about "pursuing targeted growth opportunities".

There IS a future, and it owes HCP plenty.

[barnetpeter] 12/9/2014 10:48

Well someone is buying every share they can. I dont really think the current Board have been agressive enough....they own a lot of the stock of a billion pound hotel group. Yet did not seem to know the position of the various debt holders etc. We need clout here.....and hopefully someone wil look to take this on. Still only valued at cash......

[bckttsim] 12/9/2014 10:46

the_beagle ......... This explains a bit more.The Hotel Collection says changes to its parent company, UK Group of Hotels Plc, which went into administration earlier this month, have left it 'well positioned' to boost its portfolio.The collection, formerly known as the Puma Hotels Collection, confirmed it was 'business as usual' at its 21 hotels across the UK despite the reshuffle."The administration of UK Group of Hotels Plc (previously Puma Hotels Plc) has no effect on The Hotel Collection and for us it is business as usual," it said in a statement. "There will be no changes to staff, suppliers or vendors. This development in fact leaves The Hotel Collection well positioned to optimise its market position, initiate strategic investments to upgrade its portfolio and pursue targeted growth opportunities."The Hotel Collection rebranded in June to "reflect our desire to build upon our successful strategy to focus on the strengths of the individual hotels, many of which are iconic properties, well known in the market in their own right," according to CEO Fredrik Korallus.Since the rebrand, it announced a range of new initiatives to lure conferences and events to the properties, including new all-inclusive packages.Three managing directors of Duff and Phelps were appointed as administrators to the UK Group of Hotels on 4 August.In a statement, the global valuation and corporate finance advisor firm said the move was intended to help 'restructure the group's banking facilities', and stressed its subsidiaries were unaffected.It read: "UK Group of Hotels Plc has been placed into administration to assist the restructuring of banking facilities. None of the subsidiaries of the parent company are affected by this process and all hotels will continue their day-to-day operations as normal. "All staff will retain their roles, existing bookings will be honoured and new bookings taken with no effect to customers' statutory rights, as well as all supplier relationships continuing as previously."

[treacle32] 12/9/2014 10:26

Not long now until 2p - never know during this wave we may break that.