• UK hotels see rise in distress

The UK hotel market saw an 88% increase on the year in the number of distressed hotel businesses sold by Christie and Co in the six months to the end of September.

Steve Rodell, head of bank support and business recovery at Christie and Co, said: "Many businesses have already faltered as a result of the tough economic climate, and many more are expected to fall by the wayside over the next six to 12 months. However, as our data shows, distressed assets continue to appeal to experienced operators and those looking to start their first business, with a marked rise in buyers returning to the market during 2010."

See the full release here:
http://www.christiecorporate.com/ccc/news/pressrelease/2010/2010-11-3/

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