Hotel Where Queen Elizabeth II Stayed During Last Visit To Trinidad Placed Into Receivership

PORT OF SPAIN, Trinidad CMC – The 157-room hotel where Britain’s Queen Elizabeth and her husband, Prince Phillip, stayed during their visit here to attend the 2009 Commonwealth Heads of Government Meeting (CHOGM), has gone into receivership.

First Citizens Bank (FCB) said it is working with the various stakeholders to ensure “the best possible outcome for all concerned under the circumstances” for the Carlton Savannah hotel, which also had 51 suites and situated on the outskirts of the capital.

The hotel, which became fully operational in 2011, has been struggling to turn over a profit.

The Trinidad Express newspaper reported Friday that two partners at audit and consultancy network Deloitte have been appointed receivers

It said that the Carlton Savannah would continue to operate as a going concern while possible sale options are looked at.

A British company which was a primary shareholder pulled out of the hotel several years ago, leaving several local minority shareholders. Private real estate investors were sold suites at the hotel when it was opened.

The Express said that investors have been refunded the money they paid for the suites.