Receiverships won't hit airport hotel
25.04.09
A Newcastle Airport hotel will open as planned this summer despite the two firms behind the development being placed in receivership, the Journal reports. The reassurance was given last night by a spokesman for the airport after it emerged companies linked to flamboyant former bar boss Joe Robertson had crashed.
Mr Robertson had invested in Rostock Investments Limited and St James Capital Hotels Limited, both of which had secured the deal to build the 187-room hotel on land owned by the airport close to the terminal. But both British Virgin Islands-registered businesses are now in the hands of administrators Zolfo Cooper after being forced into receivership by the bank providing their funding.
A Zolfo Cooper spokesman told the newspaper: 'We have worked closely with the main contractor and the airport to complete the hotel. Work has continued and the hotel remains on track for opening in June 2009.’
Head of planning and corporate affairs for the airport Graeme Mason added: ‘We are working to deliver the opening of the hotel as soon as possible in time for our busy summer season. We hope to be able to announce the hotel brand within the next few weeks.’
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