MacDonald wins £550,000 in timeshare claim
-by Simon Bain
Published on 30 Oct 2009
Macdonald Hotels has banked a £550,000 windfall after winning its claim against the timeshare owners’ club which dumped the hotel group from running the Loch Rannoch Highland Resort in 2003.
Macdonald was ousted from managing the resort next door to its remote Loch Rannoch Hotel amid owner discontent when the club committee handed the contract to Timeshare Management Services Ltd (TMSL), a company set up by former committee members to run the resort.
But the independent-minded committee faces a rough ride at the club’s annual general meeting in Stirling today after making the bumper pay-out to Macdonald despite running up an estimated £200,000 in legal fees to fight the claim, and taking back a potential £60,000 a year liability for unsold timeshare weeks previously owned by Macdonald. Meanwhile the sacking of TMSL has triggered a £389,000 legal claim against the club for termination of contract.
Donald Macdonald, executive chairman of MacDonald Hotels, said of the £550,000 win: “We had written off that debt, whatever we wrote back was a bonus to our business.”
Read the rest of this article in The Herald Scotland
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