Winter Resort Company Fails, Prince Andrew Could Be Out His Deposit
Britain's Prince Andrew may be out a big vacation deposit. The London Times reports that ski chalet rental company Descent International has gone into liquidation meaning that guests may lose their deposits for winter vacations. A total of nearly £500,000 including a deposit made by the Duke of York might not be returned. The chalet company offered the most exclusive winter chalets in the Alps at resorts like Courchevel, Verbier, Zermatt and St Moritz. Earlier this year, Prince William and some friends rented luxurious villas at Klosters from Descent. Prince Andrew also stayed at Descent's Chalet Eugenia in Klosters last January during the time of the World Economic Forum in Davos and hosted a small party. He had booked the same villa for next year to coincide with the Davos conference. A total of 42 groups have already paid deposits for an amount of around £450,000. Looks like we can blame the recession for this one too, the reduction in luxury travel is being cited as a reason for the company's failure.
