Hotel chain Golden Tulip requests receivership

AMSTERDAM, March 31 (Reuters) - Dutch hotel operator Golden Tulip Hospitality Group said on Tuesday it was going into voluntary receivership and discussing a possible merger with Apollo Hotels & Resorts.

Golden Tulip, which owns 60 hotels directly with a further 720 franchised or affiliated across more than 50 countries, said declining occupancy rates and the cost of investing in new hotels had led to losses.

A spokesman for the group said it had filed for suspension of payments as a form of protection from creditors, and an interim receiver would be appointed by a court.

"The general decline in the leisure and hospitality sector due to the recession, have also had their impact on Golden Tulip," the group said in a statement.

"Especially outside the Netherlands and Belgium the occupancies have declined substantially in the last three quarters."

It said it was discussing a possible merger with smaller Dutch group Apollo Hotels & Resorts and private equity firm H2 Equity Partners.

Hotels are struggling as recession-hit consumers cut back on trips while businesses trim travel costs to avoid perceptions of frivolous spending.

The operations of Golden Tulip and its franchises would not be affected by the status of receivership, as most Golden Tulip hotels are independent franchises, the group said.

Golden Tulip competes with Intercontinental Hotels (IHG.L), and Marriott International (MAR.N), amongst others. (Reporting by Catherine Hornby; Editing by David Cowell)