THE owner of two of Bute’s largest hotels says he has no plans to close either business after they were put up for sale with a combined asking price of almost £1.7 million.
Around 25 people are employed at the Victoria and Esplanade hotels, which are being offered for sale through business sale specialists Bruce & Co, with offers over £1 million being sought for the Victoria and over £695,000 for the Esplanade.
The hotels’ owner, Ian Bruce, told The Buteman: “There are two reasons why the hotels have been put on the market: firstly, as I get older, the amount of hours required at the hotel and our other business interests in Glasgow is becoming less and less attractive, and secondly, the current state of the hospitality sector.
“The two hotels are actually performing very well, and we have no intention to close either, but I make no secret of the fact that times are hard in the hotel trade.”
Both hotels have been substantially renovated in the last decade; the Victoria was closed for nine years before re-opening in the summer of 2007 following a major refurbishment.
Earlier this year notices were placed in two national newspapers announcing that The Esplanade Hotel Ltd and Bute Hotels Ltd, along with a third company, Hotel Catering Ltd, had gone into liquidation.
However, a spokesman told us at the time that both hotels would continue to trade as normal, with the Victoria under the ownership of Dawnbrook Ltd and the Esplanade under the ownership of Skyforth Ltd.
* More on this story in the next issue of The Buteman, on sale on August 4.