Airport hotel owner sells off holdings

Hotel News - 30/11/2007

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Glasgow hotelier, Maurice Taylor, recently sold off the luxury hotel, the Dublane Hydro, to the Ability Group, a residential property company.

Taylor has retained control over his other property holdings which include seven Holiday Inn Hotels, a Best Western in Cheshire and the Edinburgh Airport Quality Inn.

The Ability Group is led by Andreas Panayiotou and has not yet disclosed the sum paid for its newest luxury hotel.

The group did announce, however, that it will be investing £10 million into upgrades at the Perthshire hotel in order to add a luxury spa and golf resort to its facilities.

The 170 staff members currently employed at the Dublane Hydro will retain their positions at the hotel.

The Ability Group is considering the acquisition of other hotels across Europe and is willing to invest more than £4 billion to expand the company's property portfolio.

"We are very excited with this acquisition and look forward to enhancing the strong reputation of the Dunblane Hydro in the years to come," said Panayiotou.

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