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NH The Lord Charles

The statement said that the hotel group conducted a detailed feasibility study of the leased property in October 2019, and gave notice to the landlord on 1 March, 2020 that it would not be renewing the lease at the conclusion of the agreed period, being 31 August 2020.

"NH Hotels is not able to comment on the future of the property thereafter, this will be decided by the property owners. The property owners stated they do not require the property to be returned as a going concern and to cease operations.

As a consequence the team members, many of whom have been with the hotel for many years will unfortunately be retrenched. NH Hotels are fully committed to ensuring all team member dues and entitlements as result of this decision will be fully provided for prior to the conclusion of lease," the statement said.