FRP Advisory secures 125 jobs with Aberdeen hotel sales

Iain Fraser
Iain Fraser

Iain Fraser and Tom MacLennan, partners at FRP Advisory LLP, the business advisory firm and joint administrators of European Development Company (EDC) have sold the Holiday Inn Aberdeen Westhill (Aberdeen Westhill) and Holiday Inn Express Aberdeen City Centre (Aberdeen City) hotels out of administration to Cairn Group securing 125 jobs.

EDC, which was founded in 2007, entered administration in November 2016. EDC also owned and operated a Holiday Inn Express on Picardy Place in Edinburgh City Centre each of which was also sold out of administration by FRP Advisory in January.

The Holiday Inn Aberdeen Westhill is an 86-bed mid-market hotel, comprising a restaurant, public bar, five meeting rooms and event spaces. It is situated in the Westhill area of Aberdeen, close to the new Aberdeen Western Peripheral Route which is due to open at the end of 2017.

The Holiday Inn Express Aberdeen City Centre is a 155-bed hotel with a breakfast room, bar, two meeting rooms and 13 car parking spaces. It benefits from a city centre location and is in walking distance from the main railway station.

Iain Fraser, partner at FRP Advisory, said: “We are delighted to have secured the sale of the Aberdeen Westhill and Aberdeen City hotels to the Cairn Group. The administration period provided a vital cushion to allow for a thorough marketing process while the hotels continued to trade as normal. We are pleased to have secured the future of these two important Aberdeen hotels and the 125 jobs, and wish the Cairn Group every success for the future with the addition of these high-quality assets to its portfolio.”

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