More than 100 jobs have been saved after a deal was agreed to sell a Midland hotel out of administration.
The positions had been under threat after the Ramada Park Hall Hotel & Spa in Wolverhampton collapsed into administration.
But David Bennett and Joe McLean of Grant Thornton UK, joint administrators of Fortmere Group, have sold the business to Mr R S Power and partners for an undisclosed cash sum, safeguarding the jobs.
The hotel is one of three West Midlands-based hotels within the Fortmere Group, which went into administration in May 2011.
Mr Bennett said: “We are very pleased to have sold this iconic Wolverhampton hotel, especially given the difficult economic times and the challenges being faced by the hotel sector.”
Mr Power added: “Ramada Park Hall has a promising future ahead and we are currently putting plans together for a full refurbishment of the hotel. We are continuing to take bookings for the Christmas season and look forward to welcoming everyone, both long-standing and new customers.”
