Buy-to-let hotel group GuestInvest has gone into administration.
Deloitte has been appointed to handle the administration of the HBOS-backed business.
GuestInvest was founded in 2003 by the Johnny Sandelson and gave individuals the ability to buy a hotel room, stay there for free for up to 52 nights a year and receive a rental income from its use during the rest of the time.
Blakes hotel, which GuestInvest bought last year for £34m, is operating outside the administration. Sandelson has been trying to sell the hotel off market for several months.
