BridgeStreet's operations arm goes in to UK administration

George Sell George Sell Uploaded 05 December 2020

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UK: Sarah Rayment and Mark Shaw of BDO have been appointed joint administrators of BridgeStreet Accommodations London Limited, which has ceased trading, leaving guests urgently seeking alternative accommodation.

In an email sent to guests, the administrators said: "I write to inform you that on 4 December 2020, The Company records indicate that you are currently a guest staying in an apartment through a booking made with the Company. Please note that as a result of the Company being placed into Administration, the Company is unable to honour any current or future bookings made with the Company. For the avoidance of doubt, the Company is not in a position to provide any current or future booking you may have with the Company. I would advise that you take steps to make alternative arrangements for the continuation of your stay."

SAN understands that guests are being relocated to other providers in the area by agent Check-in-London.

In an email to accommodation provider partners, BridgeStreet said its agency business, which is expected to change ownership on December 7, is unaffected by the administration: "The hospitality business is separate from the agency business and its liquidation will not adversely affect the agency business."

Companies House record reveal that Mathias Saleborn, former managing director EMEA at BridgeStreet, had his directorship terminated on October 30. Earlier in the same month, Kamal Advani, managing director of BridgeStreet's current owner Versa Capital, also had his directorship of BridgeStreet Accommodations London Limited terminated. He was listed as BridgeStreet CEO on the company's website until this week.

Versa acquired BridgeStreet, which has a head office in Reston, Virginia, in 2014. It embarked on a strategy of becoming a distributor, building what it described as "the first OTA for business travel" and scaling down its operations arm.

In April this year, Advani told SAN: "In light of the unprecedented impact of COVID-19 on the travel industry, we have curtailed the operation of US-based BridgeStreet branded and operated properties where we carry the occupancy risk (At Risk Properties) and expect to ultimately cease these operations."

Earlier this month, Native rebranded and took over management of BridgeStreet's Mode aparthotel in Edinburgh.

 

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