Golden Tulip withers in tough times
AMSTERDAM – Franchise owners of Golden Tulip hotels are keen to buy the Golden Tulip brand name after the hospitality group said it was going into voluntary receivership, Dutch news agency ANP reported.
Golden Tulip, which owns 60 hotels directly with an additional 720 franchised or affiliated across more than 50 countries, said on Tuesday declining occupancy rates and the cost of investing in new hotels had led to financial losses.
“We want to keep Golden Tulip in our own hands to prevent companies who want to come in and clean up the mess and then put it up for sale again in a couple of years,” said one hotel franchise owner.
The Golden Tulip group said on Tuesday it had filed for suspension of payments as a form of protection from creditors, and an interim receiver would be appointed by a court.
“The general decline in the leisure and hospitality sector due to the recession, have also had their impact on Golden Tulip,” the group said in a statement.
“Especially outside the Netherlands and Belgium the occupancies have declined substantially in the last three quarters.”
Golden Tulip, which has hotels in Shanghai and Jaipur, said it was discussing with smaller Dutch group Apollo Hotels & Resorts and private equity firm H2 Equity Partners about a possible merger.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025