LEADING mid-tier accountancy firm French Duncan has advised The Town House Collection, one of Scotland’s premier independent hotel groups, on the sale of its Blythswood and Bonham hotels to global private investment firm Starwood Capital Group for an undisclosed sum.
The five star Blythswood Hotel in Glasgow, formerly home to the Royal Scottish Automobile Club, underwent a £24 million redevelopment before reopening in 2009. In addition to 100 rooms, it features a bar, restaurant and spa. The Bonham, meanwhile, is a boutique hotel located at Edinburgh’s West End, with 49 rooms, a bar and event space.
Founded by Scottish hotelier Peter Taylor OBE in 1989, The Town House Collection employs 270 members of staff across the two properties and has revenue of £12 million.
French Duncan Tax Partner Barry Laurie, who has particular expertise in the hospitality sector, said: “Our tax team in Edinburgh worked intensively with the Board and the other advisers on this deal throughout the last months of 2014, providing tax advice on all aspects of the deal. We are delighted that the sale has been concluded to the satisfaction of all parties.
“Having been introduced to Peter Taylor some 20 years ago when he started the Group with Channings Hotel, we have worked with him and his Board ever since, providing tax advice on all the many projects that have enabled the Group to grow and flourish. We wish him, his family and his team well for their future ventures.”
French Duncan is one of the largest mid-tier accountancy practices in Scotland with 20 partners, a fee income of £10 million, nearly 200 employees and a network of five offices spanning Scotland’s Central Belt.