CROWNE PLAZA HUNTER VALLEY PROPERTY OWNER IN RECEIVERSHIP
The corporate group that owns the Crowne Plaza Hunter Valley property was placed in Receivership on 18/1/10.
Ferrier Hodgson partner Peter Walker has taken control of the three companies that make up the owner group: Micland Holding Pty Ltd; Tairo Pty Ltd and HVGCC Pty Ltd.
The operation of the resort will not be affected by the Receivership. Since 2006, the resort has been managed by InterContinental Hotels Group (IHG). The Receivers will continue to utilise the management services of InterContinental Hotels whilst a strategy for sale of the resort is developed. “
IHG is doing an excellent job as manager of this exclusive resort and we have no intention of doing anything to change that,” Mr Walker said. “We will continue working closely with IHG which will run the business on an as-usual basis. We are currently looking for a buyer and the likelihood is we will transfer ownership of the land to the new owner without visitors to the resort ever noticing a change has taken place.”
Mr Walker said if a sale of the property takes place as planned there will be no loss of jobs or impact on employees. He also confirmed that all employee entitlements would be paid in the ordinary course.
ENDS