The Scottish National Investment Bank has invested £4.45m into Highland Coast Hotels to help support more sustainable and community-led hospitality around the North Coast 500 tourist route.
The investment will also be used to upgrade four hotels along the route, helping to create full-time jobs within the company and up to 40 full-time equivalent jobs within the local area through supply chain investment.
In line with the bank’s net zero mission, the investment should also embed sustainability in each hotel and support Highland Coast Hotels’ objective to achieve carbon neutrality.
The loan supports upgrades of the Royal Golf Hotel in Dornoch, the Royal Marine Hotel in Brora, Newton Lodge in Unapool and the Kylesku Hotel in Kylesku. It will be repaid by income generated by the hotels.
Eilidh Mactaggart, chief executive of the Scottish National Investment Bank, 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.”
As well as direct and indirect employment, the investment should also ensure that Highland Coast Hotels can continue to provide education and training opportunities for the hospitality sector through the University of Highlands & Islands and springboard collaborations - and a minimum of 10 apprenticeships over the next three years.
David Whiteford, chairman of Highland Coast Hotels, 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 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 to help the development plans.
“This investment undoubtedly helps put the North Coast 500 community firmly on the road to a more sustainable future.”
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