By Ian McConnell
THE Scottish National Investment Bank is providing £4.45 million of funding to Highland Coast Hotels to support the upgrade of four properties, declaring this “will help to support more sustainable and community-led hospitality around the North Coast 500 tourist route”.
Taxpayer-funded SNIB flagged potential for the loan funding to enable the creation of dozens of jobs, and support apprenticeships, as well as improving the availability of accommodation options for tourists on the route. The funding will support the upgrade of the Royal Golf Hotel in Dornoch, the Royal Marine Hotel in Brora, the Newton Lodge in Unapool and the Kylesku Hotel, all situated on the North Coast 500, SNIB noted. It added that the loan would be repaid from income generated by the hotels.
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SNIB declared the investment would “support tourism and employment opportunities in a remote area of north Scotland, where tourism is crucial for the local economy and is vital to sustain communities and businesses”
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Noting the loan would support investment in the four hotels, SNIB said the funding would help to create full-time posts within Highland Coast Hotels and up to 40 full-time equivalent jobs “within the local area through supply-chain investment”.
SNIB said: “The investment aligns with the Bank’s mission to invest in places and regeneration to reduce inequalities and improve opportunities and outcomes for people and communities.”
Eilidh Mactaggart, chief executive of SNIB, said: “Our investment will support a vital industry for the Highlands whilst securing quality employment, educational and training opportunities in rural communities. The investment will also benefit local businesses through Highland Coast Hotels’ commitment to sourcing food, beverages and other supplies locally, and partnering with other local businesses who can offer activities and visitor experiences to its guests.”
She added: “As well as direct and indirect employment creation, the investment will also ensure that Highland Coast Hotels can continue to provide education and training opportunities for the hospitality sector through the University of [the] Highlands & Islands and springboard collaborations, and a minimum of 10 apprenticeships over the next three years.”
David Whiteford, chairman of Highland Coast Hotels, highlighted employment challenges in the area, and his hopes that the funding would help tackle these.
He said: “One of the biggest challenges that remote areas like this face is a lack of employment opportunities, particularly for young people. That’s why we are especially excited that the investment will lead to the development of a new hospitality foundation course at the University of [the] Highlands & Islands and the establishment of a modern apprenticeship scheme. We are also hoping to be awarded further valued funding from Highlands and Islands Enterprise.”
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