Hull's Owner Hotel goes into administration

A city centre hotel has gone into administration, resulting in the loss of 12 jobs.

The Owner Hotel in Albion Street called in administrators today due to significant trading losses.

Most of the rooms in the hotel are owned by private investors, who were promised 50 per cent of the money they generate.

The model is based on that of American tycoon Donald Trump.

It opened in April last year with most of the 27 rooms selling within a matter of weeks.

But the hotel has since been dogged with rumours of investors and staff not getting paid.

Financial giant Ernst & Young was appointed as administrators.

Charles King, from Ernst & Young, said: "We are attempting to assist guests in finding alternative arrangements and are working with the room owners to explore the possibility of reopening."