Purpose

The Peterborough Hilton hotel is in administration, and the
Council has lent £14.7m to it. This is to agree the
strategy/business case for next steps for the hotel.

Decision

The Cabinet:
 
1. Considered the information included within the exempt
appendix to this report;
 
2. Authorised the Executive Director of Corporate Services and
Section 151 Officer to continue further due diligence work in
respect of the options available for the hotel; and
 
3. Requested the Executive Director of Corporate Services and
Section 151 Officer to submit a further report to Cabinet setting
out the options available in respect of the hotel including the
financial and non-financial implications of each option, the routes
to be followed to achieve each option, the risks and such other
information as may be required for the Cabinet to reach an informed
decision on next steps for the hotel following completion of
further due diligence.
 
The report presented to Cabinet can be found at the bottom of
this page.