Thai group set to take over Loch Fyne Hotel
THE OWNER of the Loch Fyne Hotel and Spa in Inveraray is set to be sold to a Thai group for an undisclosed sum.
Crerar Hotels Group Ltd, which runs 12 sites in Scotland and one in Yorkshire, has agreed the sale of its entire portfolio of hotels to the FICO Castle Ltd, a UK subsidiary of Bangkok-headquartered FICO Corporation.
The other hotels included in the sale are Ben Wyvis Hotel, Strathpeffer; Chevin Country Park Hotel and Spa, Otley; the Craiglynne Hotel, Grantown-on-Spey; the Deeside Inn, Ballater; Eight Acres Hotel and Leisure, Elgin; Glencoe Inn and Gathering, Glencoe; Golf View Hotel and Spa, Nairn; GoGlasgow Urban Hotel, Glasgow; Isle of Mull Hotel and Spa, Craignure; Oban Bay Hotel and Spa, Oban; Scotland’s Hotel, Pitlochry; and Thainstone House, Inverurie.
FICO, which runs 29 sites in Britain through Jupiter Hotels, has appointed Jupiter Hotels to manage operations of the soon-to-be acquired hotels. The deal, which is expected to be completed by the end of August, takes FICO’s number of Scottish hotels to 19. In addition to the hotels, FICO Castle Ltd is also buying the brand name Crerar Hotels and Crerar’s shortbreak company www.easy-breaks.com. A spokesman for Crerar Group said: ‘We believe we have found an able and highly motivated new owner to take on and develop what we have started.
‘We feel certain the new owner’s input and fresh global perspective will bring out the best in our soon to be former hotels and associated business interests. In particular, we were impressed about the focus, care and attention they demonstrated when discussing how the people in the organisation will continue to be given every opportunity to flourish. All hotel and www.easy-breaks. com personnel are transferring to the new owners and discussions are under way regarding employees at Crerar Group offices which are also being sold to FICO Castle Ltd.’
Although the price of the sale has not been disclosed, it has been confirmed that half of the net proceeds will be donated to the Crerar Trust charity which gives money to good causes with links to where Crerar hotels have businesses or interests.
Part of the portfolio: Loch Fyne Hotel will be sold.