Strathmore Hotels undergoes management buy-out
Strathmore Hotels, the East Kilbride-based group of seven hotels, has undergone a management buy-out.
The group has five hotels in Scotland and two in England: Salutation Hotel - reputedly Scotland’s oldest hotel (pictured), Ben Nevis Hotel and The Alexandra Hotel in Fort William, the Nethybridge Hotel within Cairngorm’s National Park and The Royal Hotel in Oban.
The most recent annual accounts, for the year ending 31 December 2017, show it recorded a 7% rise in turnover last year to £16.7m. Bed occupancy rates rose from 62% to 64% last year as the group recorded a pre-tax profit of £878k.
Strathmore Hotels was founded in 1991 by Ronnie Rickard, who passed away in 2012, and it is now headed up by his son Chris who plans to add to the group's estate.