THE Madison Hotel in Swindon is closing down and all bookings from June 20 have been cancelled.
Mountain Capital, the London based owners of the Stratton hotel, have sold it to an unnamed developer.
The 30 staff at the hotel were dealt the news on Monday, with notifications sent out to any parties with bookings at the site on Thursday.
The property had reportedly been on the market for six months before a buyer was established by Mountain Capital, an investment firm dealing in residential and commercial property, leisure and care homes.
More news is expected to emerge next week over who the buyer is likely to be. The site it has acquired would have been highly sought after according to Forward Swindon, which delivers economic growth for the town.
Phil Young, director of investment at Forward Swindon, said: “We have not had any conversations with the developer or the land owners.
“The site is a very strategic site. It has high prominence on such a significant junction with the A419 and A420.
“I’m not surprised there would be a lot of interest in that site. We will be watching with great interest if anything happens over there.
“We will want to ensure any changes don’t take away from the eastern villages and are in line with the council’s planning policy.”
A spokesman for Licensed Solutions, an asset manager, said Mountain Capital had instructed it to simply close the hotel down next month following the sale.
A manager at the hotel, who did not want to be identified, said the staff set to lose their jobs would be given some support in finding new work, but there were no guarantees.
He also said staff had been hit hard by the news, some of whom have served at the hotel for a long period.
News first broke of the closure when third parties began receiving emails on Thursday, notifying them of cancellations for their relevant bookings.
Helen Jackson, of Crystal Spirit in Victoria Road, had four events booked in at the hotel for the remainder of this year. She said she is not expecting any compensation.
“I spoke to one of the girls I know on reception and allegedly its been sold for development,” she said.
“She thinks there will be an extension of the retail outlet behind the hotel. I feel really sorry for the staff, who only got the news on Monday. “I would be absolutely gutted if I had booked a wedding reception there. Trying to find somewhere else at short notice is incredibly difficult.”
l If you have been affected by the news the Madison is closing, contact the Adver news desk on 01793 501800.