The owners of a Fife hotel have described the “very difficult” decision to sell.
The development of the four star Best Western Keavil House Hotel, by Dunfermline, has been dramatic since Russell Imrie and his business partner Charnisay Gwyn made the purchase in 1987.
At the time the hotel had 32 bedrooms, a restaurant and one small function room but the new owners saw the potential was vast.
Investment
“Corporate business was increasing in the south Fife area so we added additional bedrooms to bring the hotel up to 70 bedrooms,” Mr Imrie recalled.
“Weddings were always a successful part of the hotel’s business but we were turning away as many weddings as we were booking.
“We built a large new function room to accommodate more weddings and also to have the largest banqueting room in the Dunfermline area for company dinners, association dinners, club dinners and conferences.”
Fitness club
The next major investment was the development of the separate health and fitness building for hotel guests but also for private membership.
At the time of its construction in 1989 the Dunfermline area had no private health and fitness clubs and proved an immediate success.
It added conference and banqueting facilities which can cater for functions for up to 250 people.
There years ago the hotel extended its principal dining space in its Botanist Restaurant.
Memories
“It was a very difficult decision to sell but after 33 years, it’s time for new owners to take the hotel forward to its next stage of success,” Mr Imrie said.
“My memories will always be the many great people who have worked at the hotel and who have been integral in its success and the way we have developed the hotel over the years to always keep it fresh and up to date.”
Through their company Queensferry Hotels Ltd, Mr Imrie and Mrs Gwyn also operate the Best Western Plus Bruntsfield Hotel in Edinburgh city centre.
Early last year they decided to sell the Fife hotel in 2020 as they started to wind down towards retirement.
Those plans were put into question as Covid-19 led to extraordinarily challenging conditions for hospitality and tourism businesses.
Most challenging year
“Like all hotels all over the UK, this has been the most challenging year ever,” Mr Imrie said.
“Lockdowns, travel restrictions, restrictions on bars and restaurants and reduced numbers for weddings and events have made profitability in 2020 almost impossible for most hotels.
“We had decided in early 2019 that 2020 was going to be the year we would sell and after the pandemic set in we had to decide whether to sell or delay.
“We decided to press ahead with our sale plan but in the knowledge that the sale process would be much more extended than is normal.
“We do not expect to conclude a sale until Spring 2021 by which time vaccination will be in full roll out, travel confidence will be returning and restrictions will be lifted. 2021 will be the year we return to normality.”
Unpredictable market
The directors have no immediate plans to sell their Edinburgh hotel and said it will be business as usual at Keavil House Hotel while the sale process takes place.
Christie & Co are marketing the property, which comes with 12 acres of gardens, for £3.25 million.
Regional director Brian Sheldon said: “Quality hotels such as this are still proving to be of interest to regional and national operators, despite the market remaining unpredictable and we are regularly speaking with buyers who are looking for similar quality assets.”
