News for the Hospitality Executive |
Golden Tulip Hospitality Group, with 780 hotels Around
the
World, Forced to Seek Protection from its Creditors
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April 2, 2009 - Golden Tulip Hospitality Group, which has 780 hotels around the world, has become the latest victim of the global recession and has been forced to seek protection from its creditors. The Dutch-based group has filed for suspension of payments and is now looking to merge its hotel division with Apollo Hotel & Resorts, owned by European Hotel Management. The talks also involve H2 Equity Partners, a Dutch private equity group, according to a report in the Financial Times. Golden Tulip has 75,000 rooms across more than 50 countries, with brands
including Tulip Inn, Golden Tulip and the five-star Royal Tulip.
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