Turnaround and strategic sale of SKYE Suites

Client	SKYE Suites
Industry	Hospitality and accomodation services
Services provided	Turnaround and business sale

 

We were engaged to support SKYE Suits, a premium hotel group, following a shareholder dispute that had stalled growth, eroded trading performance, and constrained cash flow. Liquidity was critical to meet ongoing obligations to staff and service providers.

The engagement focused on stabilising operations, restoring profitability, and preparing the business for sale.

We provided business restructuring services, including:

• Turnaround strategy and implementation
• Financial and operational review
• Cashflow management
• Stakeholder engagement
• Business sale advisory and execution

Strategy and restructuring path

We worked closely with management to ensure operational continuity, maintaining service quality for guests while implementing immediate liquidity measures to safeguard payroll and supplier relationships.

Key actions included:

• Conducting an operational review to identify and eliminate nonessential costs
• Reengineering the sales strategy to target high-margin corporate contracts and secure multi-year agreements
• Restructuring the organisation to improve agility, accountability, and decision-making
• Enhancing financial reporting and stakeholder communication to support turnaround execution
• Once stabilised, the business was repositioned for growth and prepared for a strategic sale.

Outcome

The turnaround delivered strong outcomes for all stakeholders, including:

• Retaining all employees, their roles, entitlements, and continuity of service
• Creditor claims, including pre-appointment arrears, were paid in full
• Revenue increased year-on-year, room costs were reduced, and earnings before interest, taxes, depreciation and amortisation (EBITDA) and cash flow improved
• The business was successfully sold to a global hospitality group, securing its long-term future and preserving its brand presence in the premium accommodation sector.