The 181-room Croydon hotel was closed by administrators in November 2023.
The administration of the former Birch Selsdon hotel has been extended for a further 12 months while a buyer is sought for the property.
The 181-room Croydon hotel was closed by administrators in November 2023 after running into difficulty due to “cash constraints”.
It was put on the market via Savills in January with no guide price, but the property is no longer listed on the agent’s website.
A report from Moorfields Advisory said the administration process had been extended for another year until 16 November 2025 “to allow sufficient time to realise the remaining assets in the company and assist with the sale of the hotel”.
The majority of the hotel’s 163 employees were made redundant on 30 November 2023, but a small number were retained to assist with upkeep of the hotel until a buyer is found.
The hotel previously operated as the De Vere Selsdon Estate before it was taken over in 2022 as part of a joint venture between Birch Hospitality and real estate investment firm Aprirose.
A total of £15.3m was invested into the property over two years and its facilities included two restaurants overseen by chef Lee Westcott, three bars, six meeting and events rooms, a coworking space, gym, outdoor lido, and tennis court.
Administrators’ documents show the hotel contains stock worth around £29,144 and is owed book debts of around £15,000.
However, it is not expected there will be enough funds to make payments to all creditors.
A Moorfields Advisory report said: “The joint administrators’ enquiries into the affairs of the company continue and enquiries are ongoing in this regard to establish whether any recoveries can be made for the benefit of the estate.”