£3m deal saves historic 24-room Scottish boutique hotel and 43 jobs
The hotel was founded in 1860, according to its website, although an inn by that name is understood to have stood on the spot since 1720.
The National reported how Kenneth Craig and Kevin Mapstone of Begbies Traynor were appointed as joint administrators of Inveraray Inn Ltd, trading as the George Hotel, on March 28.
READ MORE: Former national watersports centre on Scottish island up for sale
Now, Begbies Traynor has announced the sale of the historic boutique hotel with its contents and a residential dwelling sold to a duo of experienced hotel operators, Charlie Maclachlan and Sam Wignell of Fyne Hospitality.
The £3.05m deal will save up to 43 jobs in Inveraray.
'The George Hotel is more than just a building, it's the beating heart of Inveraray, steeped in character and beloved by locals and visitors alike. With deep personal ties to the area and decades of combined experience in hospitality, we're incredibly proud to take stewardship of this iconic institution,' said co-owner Maclachlan.
'Our vision is simple. Preserve the heritage, elevate the experience, and ensure The George remains a celebrated destination for generations to come. From its award-winning food, and vibrant pub atmosphere to its historic rooms and unbeatable setting on Loch Fyne, The George has all the ingredients of a world-class hotel,' added business partner Wignell.
Charlie Maclachlan, Thomas McKay and Sam Wignell (Image: Supplied) Thomas McKay, a partner at Begbies Traynor said: 'Our team successfully traded the hotel business, whilst our appointed agents delivered a marketing campaign which generated 51 interested parties across the UK in recent months. After considerable negotiation, Fyne Hospitality were the successful bid and progressed swiftly through the due diligence phase, demonstrating their ability to complete the transaction within the required timescales.
'We want to thank the Clark family, who owned the hotel for seven generations, for their integrity throughout and their contribution not only to Inveraray, but their openness and help with a challenging trading and sale process.
"We are also grateful to the customers and local community for their fantastic support and their loyalty to the venue over the last few months, and of course to the George Hotel staff for their ongoing hard work during the process of administration and the uncertainty that brings.'
McKay added: 'Both Charlie and Sam saved a seventh-generation business, a 165-year-old family hotel that is a major contributor to the local and regional economy and we are confident they will enjoy great success in the future. This deal opens a new chapter for the George Hotel as a historic venue, providing the best possible outcome in challenging circumstances and saving all jobs in the process.''
''The hotel and hospitality sector has had a turbulent few years. It remains an uncertain time for hotel businesses to manage the costs of trading, increased prices for goods and services, whilst making a profit and meeting HMRC or other creditor commitments."
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