Harlequin Property enters administration

Harlequin Property enters administration

Harlequin Hotels and Resorts today stressed that it is unaffected by UK property investment agent Harlequin Property entering administration.

Harlequin Property announced it is seeking administration as part of an ongoing restructuring of the company.

However, Harlequin Hotels & Resorts, which runs Buccament Bay Resort and blu St Lucia, is operating as normal, taking bookings and trading strongly, according to chairman Dave Ames.

Harlequin Property is a separate company that acts as the primary UK property investment agent for Harlequin’s hotels.

Ames said: “Due to unfounded negative publicity that has been instigated since 2011 following legal action taken by Harlequin, the day-to-day business of Harlequin Property has become increasingly challenging. Harlequin has always sought to manage its affairs professionally throughout this difficult time.

“The last few months have given Harlequin Property the chance to restructure its business to attract new outside investment and develop properties in accordance with the overseas property investment sales it has made.

“The first stage of this restructure is for the directors to place Harlequin Property into administration via a notice of intention to appoint administrators.

“The directors believe that Harlequin Property can be restructured successfully. The administration procedure will give Harlequin Property some breathing space and the ability to deal with the challenges.”

He added that Harlequin Hotels & Resorts continues to trade strongly with both hotels having a good level of forward bookings.

“The two companies are separate, therefore HHR is completely unaffected by this decision,” said Ames.

“We continue to invest in both products – Buccament Bay and Blu, St Lucia – in response to the strong bookings we are seeing this year from all markets.”


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