Golden Tulip hotels in financial trouble
Wednesday 01 April 2009
The international hotel chain Golden Tulip, which was formed in the Netherlands in 1962, has applied for court protection from creditors.
The group, which has 780 locations worldwide, has been hit by falling occupancy rates because of the recession.
The company is in talks with possible investors on a restart, CEO Hans Kennedie told the Telegraaf.
Golden Tulip, which has gone through a number of ownership changes, was part of the Spanish hotel group NH Hoteles and was the subject of a management buyout in 2002.
© DutchNews.nl
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