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May 20, 2009

UK venue slips into administration

The Portland Spa Hotel and Conference Centre has been seriously hit by the recession, and is on the verge of going out of business.

Senior management of the £10 million landmark hotel complex on Portland have called in the administrators, although the venue, which employs 55 people, will remain open as attempts are made to find a buyer.

The complex comprises a 78-room four-star hotel together with a purpose built-conference centre, restaurant, fitness club, spa therapy suite and pool. Unfortunately the opening of the conference centre, which launched in April 2007, couldn’t have happened at a worse time, with the downturn just about to hit. Meanwhile, the future of the hotel, which opened last October, was always going to be uncertain.

“Unfortunately the amount of money required to convert part of the site for use as a hotel and conference facility, combined with a downturn in spending in the leisure sector has caused serious financial problems,” said joint administrator and partner at KPMG Richard Hill.

Putting on a brave face, Portland Spa events executive Julie Storey said: “It’s very much business as usual. We’re still open and we’re continuing to take bookings for weddings this year and next. Despite what’s happening we’re feeling positive about it.”

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