Deloitte brought in to administer GuestInvest

by AccountancyAge.com

06 Oct 2008

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Deloitte has been appointed administrator of GuestInvest, the buy-to-rent hotel scheme advertised under the slogan ‘Earn money while you sleep’, said to have brought returns of more than 8% to investors who bought luxury hotel rooms with the option to stay for up to 52 nights a year at no extra charge, and earning rent from guests who stayed in owner's absence.

GuestInvest, which owned five luxury hotels in central London, including South Kensington Blakes Hotel, understood to be the London haunt of celebrities such as Robert De Niro, Uma Thurman and Diana Ross, regarded as the jewel in the company's crown, according to The Press Association.

The hotel, which was bought for ₤34m last year from actress and designer Anouska Hempel, is unaffected by the administration and is operating as normal.

An attempt by the group to sell Blakes’ 39 rooms for £1 million each, has reportedly failed to attract any investors.

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