Tue, 29 Aug 2023 | ADMINISTRATION
A five-star luxury golf and spa resort in Renfrewshire is set to be put up for sale after falling into administration. The Mar Hall Golf and Spa Resort is situated in Bishopton on a 240-acre estate with a workforce of close to 120 staff.
Andrew Dolliver, Kris Aspin and Luke Charleton of EY-Parthenon’s Turnaround and Restructuring Strategy team were appointed as joint administrators to Mar Estates Limited (the company behind the hotel) on August 22.
Despite the appointment of the joint administrators, the resort will continue to operate on a business-as-usual basis while a buyer is sought, with existing booking and gift vouchers to remain valid. Administrators say they expect significant interest in the resort.
The Mar Hall Golf and Spa Resort opened in 2004 on the previous site of the Erskine Hospital, following a £15 million re-fit to convert the original building into a hotel. In addition to the hotel, the resort features a swimming pool, gym and 18-hole golf course, which regularly hosts pro-am tournaments.
Mar Estates Limited’s most recent accounts at Companies House cover the year ending December 31 2020, during which period the company reported turnover of £1.5 million, down from £5.3 million a year earlier, while seeing its losses widen from £128,243 in 2019 to more than £1.3 million, following the significant disruption of the COVID-19 pandemic.
At the time, the resort’s fixed assets were valued at £15.2 million and current assets at £281,978, with net assets amounting to slightly over £400k.
A statement from the joint administrators read: “Located on a 240-acre woodland estate, Mar Hall Golf & Spa Resort is a five-star luxury hotel near Glasgow, employing 118 staff.”
“The resort will be marketed for sale, with the joint administrators anticipating significant interest for this high-profile asset. Experienced hotel operators Michels & Taylor have been instructed to support the joint administrators in managing the Resort, pending a sale.”
Find out more about emerging M&A trends in the UK hotel industry
Major country freehouse and Inn with a stunning detached owner's residence, all set in approximately 10 acres in an area of unmatched natural beauty. The Inn is located in a delightful country setting amid the rolling countryside of South East Cornwa...
FREEHOLD
A very well positioned hotel, pub and restaurant in Seaford on the South coast. Whilst the pub and restaurant, with the large beer garden are very successful, there is a fantastic opportunity to develop the property and plot further to introduce holi...
FREEHOLD
This outstanding hotel business is now for sale in Buckingham. Since its founding in 2000, it has built up an impressive client base. Having a freehold tenure on the property aids an easy transition for a new owner. It sees a high annual turnover, pr...
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.