Wed, 30 Oct 2013 | BUSINESS SALE
A Chinese travel firm has bought the Watermill Hotel in Paisley, Scotland out of administration.
The Watermill Hotel entered administration earlier this year, with Begbies Traynor appointed in January. The firm has now been bought by Chinese travel firm Omega Travel.
Watermill manager Paul Nzoka told the Paisley Daily Express that there could be as many as 250 Chinese tourists arriving in Paisley every week as a result of the acquisition.
Mr Nzoka told the paper: “This is such great news for all of Paisley … I am delighted that the hotel has been bought.”
He added: “Omega Travel specialises in bringing Chinese tourists to the UK. They could see the potential in this and now it's theirs.”
The travel agency intends to use the hotel as a base for tourists looking to explore Scotland, allowing Chinese visitors to settle in before heading North into the Scottish Highlands.
Tom Johnston, president of Renfrewshire's Chamber of Commerce, expressed his approval of the takeover, telling the local paper that the sale will benefit the hotel as well as the broader tourism markets of Paisley and Scotland as a whole.
As a result of the acquisition there will be no job losses among the hotel's 25 staff.
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