During the subsequent recession, the debt taken on to fund the transaction became unsustainable, resulting in Mount Charlotte being taken over by Brierley Investments of New Zealand for £664m in 1990.
In 2004, it opened its Cumberland Hotel in London[2] after a £95 million renovation, which operated under the Guoman brand.
In 2008, Thistle Hotels announced that it was currently undergoing a re-branding of £100 million to maintain consistency across the group.
Thistle Cardiff the Parc reopened in September 2008 after being closed for 17 months due to fire[3] and has been refurbished throughout.
was unsuccessful in its bid,[4] meaning the majority of the provincial estate changed management, being run by Accor Hotels.