Proposed £5 million investment in Aviemore resort welcomed
Tourism Minister and local MSP Fergus Ewing has welcomed the announcement that a £5 million investment will be made at the Macdonald Aviemore Resort in the coming year.
Mr David Guile, Macdonald Hotels chief executive, said that the resort has gone from strength to strength in the past year as he announced the group-wide financial figures.
The Aviemore resort achieved a profit before tax of £600,000 compared to a loss of £200,000 in the previous year from turnover of £9.5 million up 8% due mainly to growth in both the leisure and conference sectors.
Macdonald Hotels’ overall operating profit increased 7% to £14.9 million from £13.8 million.
Mr Guile said: "The increased operating profit on last year has mainly been achieved from those hotels in which we have recently invested, such as the Macdonald Inchyra Hotel and Spa near Falkirk, as well as from the five-star Macdonald Randolph Hotel and the Macdonald Aviemore Resort which is going from strength to strength and which will be the subject of a £5 million investment programme in the year ahead."
Group finance director Gordon Fraser said: "The business in its 24-year history has never been better placed in terms of its people, its product and its financial strength giving the group the ideal platform for a successful future."
A spokesman for the hotel group told the ‘Strathy’ that details of the £5 million plans for the resort would be announced around June time.
Mr Ewing said: "This investment will enable the provision of improvement to accommodation and other facilities in the Macdonald Aviemore Resort. This is very welcome.
"Many conferences come to this part of Scotland because of the resort’s facilities, and the beauty of the surroundings.
"As Tourism Minister, I have set up a fund which enables conference centres to compete on a level playing field in attracting such conferences against international competitors.
"I was happy to provide details of this scheme to Gordon Fraser and his colleagues at a meeting some months ago.
"This investment is a vote of conference in the resort and its staff, and I warmly congratulate all of the decision makers in the company who are making this happen."
The hotel group invested over £13 million in capital projects, including £1 million to build the new clubhouse at the Macdonald Spey Valley Championship Golf Course in Aviemore.
Macdonald Hotels also confirmed a new five-year banking facility totalling £299 million with Lloyds Banking Group as it announced its results for the year ended March 28, 2013.
As part of the refinancing, the hotel group’s executives now own 100% of the share capital.