Mon, 01 Aug 2011 | BUSINESS SALE
Two of the largest hotels in Bute, Scotland, have been put up for sale through business sale agents Bruce & Co.
The Victoria and Esplanade hotels will continue trading as normal whilst a buyer is sought, the owner, Ian Bruce, told The Buteman.
Mr Bruce told the publication, “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,” added Mr Bruce.
The Victoria Hotel – which was totally refurbished before its re-opening in 2007 – has a price tag of offers over £1 million. The Esplanade Hotel – which has also undergone substantial renovations within the last 10 years – has an asking price of offers over £695,000.
Currently, 25 people are employed across both the Victoria and Esplanade hotels.
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