Scotland-based Aviemore Highland Resort (AHR) has been placed into a pre-pack administration, which is being managed by PricewaterhouseCoopers.
The Macdonald Hotels Group is going to buy the assets and business of AHR. The group will also put in the funding required to complete refurbishment of all the hotels on the site, and to build a new cinema and clubhouse at the Spey golf course.
The move has secured the future of the resort and of the 300-strong workforce. Forward bookings are to be honoured.
The move will also involve a write-off for the consortium investors, to include Lloyds with a 33% equity stake, David Sutherland, chairman of the Tulloch Group and Macdonald Hotels.
Lloyds had provided a loan of £40m to Aviemore, some of which has been taken by Macdonald; most of it is considered likely to be written off.
According to reports, the resort had been teetering on the edge of closure for about two years.
It is thought that Aviemore had debts of around £45m.
Macdonald Hotels and Resorts Limited, founded in 1990 by David Macdonald, runs over 40 hotels and 10 resorts throughout Britain.
