Devonshire mergers to create single unit
Edinburgh-based hotel developer and management company, Residence International, has merged its Glasgow hotel One Devonshire Gardens with near neighbour the Devonshire hotel to create one 41-bedroom hotel.
Managing director of Residence International Brian Martin said: "From a business perspective it's more efficient to run a 41-bedroom establishment than two separate properties."
Under the terms of the agreement announced last week, the owners of the smaller, 14-bedroom Devonshire hotel, Jeanette Montgomery and Patrick Newall, have both become shareholders in One Devonshire Gardens. Montgomery said that no money had changed hands.
She has become UK operations director of Residence International and will run the Glasgow property and the 30-suite Edinburgh Residence hotel and timeshare property. Newall joins the board of One Devonshire Gardens as a non-executive director.
A £1m refurbishment of the hotel is due for completion by the end of the year and the hotel is recruiting staff.
Private residential flats exist between the two hotels at number four Devonshire Gardens, but there are no plans to buy them.
Source: Caterer & Hotelkeeper magazine, 31 May-6 June 2001
