24th Jul 2008 07:00
The Hotel Corporation plc
Dawnay Shore Hotels plc - New Asset Manager Appointed
The Board of The Hotel Corporation plc, whose principal asset is a 49.9% stake in Dawnay Shore Hotels plc ("Dawnay Shore Hotels"), announces that it has been informed by Dawnay Shore Hotels that Dawnay Shore Hotels is issuing the following press release.
A copy of the announcement released today by Dawnay Shore Hotels is attached to this announcement.
-ENDS-
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Dawnay Shore Hotels plc Howard Shore |
Telephone: 020 7468 7911 |
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Shore Capital and Corporate Limited Dru Danford |
Telephone: 020 7408 4090 |
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Citigate Dewe Rogerson Chris Barrie/ Kevin Smith |
Telephone: 020 7638 9571 |
Dawnay Shore Hotels plc - New Asset Manager Appointed
At a meeting of the directors of Dawnay Shore Hotels plc (the "Company") held on Tuesday, 22 July 2008, Peter Klimt and Guy Naggar tendered their resignations as directors of the Company with immediate effect. These resignations were accepted by the board. The board would like to thank each of Peter Klimt and Guy Naggar for their contribution to the Company.
The Company has today terminated the engagement of Dawnay, Day Hotels Limited ("DDHL") under the Portfolio Management Agreement and has engaged Shore Capital Limited to provide the services previously supplied by DDHL to the Company on the same terms. This appointment will take effect immediately.
Howard Shore has been appointed chairman of the Company and Jonathan Paisner has been appointed to join the board as a director, both appointments effective as of Tuesday, 22 July 2008.
The board of directors will propose a change of name of the Company and a notice is being sent to shareholders today to convene a general meeting of the Company to approve the name change to Puma Hotels plc.
Notes for Editors
Paramount Group of Hotels was established in 1994 and was acquired by Dawnay Shore Hotels plc in July 2004. Following further acquisitions it now owns 20 four star hotels across Scotland, Northern England, Central England, Southern England and Wales, including the Lygon Arms in the Cotswolds, the Carlton Hotel in Edinburgh, The Marine in Troon, The Majestic in Harrogate, The Imperial on Torquay, The Imperial in Blackpool and the Oxford Hotel in Oxford.
The hotels offer extensive banqueting, conference and leisure facilities and many of them have architectural and historical significance. The Group has some 2,872 bedrooms and around 20,000 square metres of conference and meeting rooms and offer extensive facilities to both corporate and leisure guests.
Barcelό Hotels & Resorts, which manages over 182 hotels in 15 countries in four continents, took on the management and operation of the UK hotel group formerly branded as Paramount Hotels, in September 2007. From January 2008 the Paramount properties were rebranded as Barcelό Hotels.
Barcelό Group is a privately owned Spanish hospitality and travel company. The activities of the company include the management and operation of over 182 hotels across more than 15 countries under an ownership, leasing or management basis as well as operation of retail travel agencies. The Barcelό Group also promotes projects broadly related to the tourism and hotel industries, owning shares in other companies. The Barcelό Group carries out its activities in Spain, the Dominican republic, Costa Rica, Nicaragua, the United States, Mexico, the Czech Republic, Turkey and Switzerland, among other countries.
Enquiries:
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Citigate Dewe Rogerson Chris Barrie/ Kevin Smith |
+44 (0) 20 7638 9571 |
Related Shares:
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