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Palace Hotel & Casino Limited has today announced....

23rd August, 2010

Palace Hotel & Casino Limited has today announced....

Palace Hotel & Casino Limited has today announced that, by mutual agreement, its franchise arrangement with Hilton UK Hotels Limited (as assigned to HLT London Manage Limited on 24th October 2007) will come to an end on 13th November 2010. The current franchise arrangement was entered into in May 2007 (upon Sefton Group Plc's acquisition of the Palace operation) for a term of three and a half years.

From 13th November 2010 the business will revert to its original trading name of Palace Hotel & Casino, and will operate as an independent four-star hotel within Sefton Group.

Commenting on the change Brett Martin, Sefton Group CEO, said:

‘Palace Hotel and Hilton have enjoyed a harmonious and mutually beneficial association over the past few years and we would like to thank Hilton for their part in this. However, going forward we believe that the Hotel will operate best as part of the Sefton Group brand with the benefits that independence and operational flexibility provide'.

Adrian Brockhouse, Managing Director of Palace Hotel & Casino Limited added:

‘Whilst I have enjoyed working with Hilton I very much welcome the opportunity to integrate into the Sefton structure. For the first time we will be able to fully promote our range of hotel product, from the budget offering of Sefton Express through the leisure-complex of Palace to the luxury of our flagship Sefton Hotel'.

Meaghan Murta, Regional Head of Full Service Brand Management for Hilton Worldwide in Europe said:

‘The decision not to renew the franchise agreement is amicable and allows both parties time to explore new opportunities.  Our experience with Hilton Isle of Man has been positive and we have enjoyed the association with the owners. We wish them continued success in the future'.

 Ends

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