Hotel companies go into liquidation

Creditors have voted to liquidate the parent companies of the Mercure hotels in Hobart and Launceston.

Lanco Hobart Holdings and Lanco Launceston Holdings went into administration in December with debts of more than $20 million.

Lanco bought the Launceston hotel 10 years ago and the Hobart hotel eight years ago.

It signed a deal with global chain Accor to trade under the name Mercure.

By 2008 it had sold all the hotels' rooms to investors, who have been paid an annual return of 7 per cent.

But after two years of losses, Lanco stopped paying rent to investors in last year and entered administration in December.

The administrator Richard Rohrt is confident the Tasmanian hotels can be sold.

Mr Rorht says there will be no job losses from the 130 staff, for now.

"The only offer on the table at present is Accor and the market it open to accept offers from any prospective purchasers," he said.

"For the moment it's business as usual."

Investors in hotel rooms also have an anxious wait to see whether they will receive almost $2 million worth of unpaid rent

The lender Tasmanian Perpetual Trustees is the biggest creditor, owed almost $20 million.

The global hotel chain Accor says it is in negotiations to take over management of the hotels.

Source: ABC News, 8 February 2013