Online global boutique hotel platform, Chic Retreats, has been acquired out of administration by GAHN Capital to join its growing portfolio of brands.
Chic Retreats, which entered into administration in July 2018 after experiencing funding issues, will now continue to operate, with GAHN Capital acquiring the company’s assets, technology and customer contracts, with negotiations concluding on August 14.
The business will now be supported by new CEO and stakeholder Georgia Panteli, who boasts more than 24 years’ experience in hospitality, having worked for a number of travel brands.
Founder of Chic Retreats, Lulu Townsend will continue to consult for the brand and said she was ‘delighted that Chic Retreats will be moving ahead with its brand and technology developments with the core team in place’.
Chic Retreats joins the GAHN Capital portfolio alongside Hotec Ltd and Guestmaster International Ltd, both now trading as acomos.
GAHN Capital is said to be ‘leading investor’ in the hospitality technology market.
GAHN Capital stated that with the transaction now complete and Georgia officially appointed as CEO, the company is eager to reignite the brand and deliver against its early promise under the new company.