Macdonald Hotels and Resorts has failed in its bid to buy back the management of the Loch Rannoch time-share resort in Scotland, after insufficient owners responded to its take-over offer.
Donald Macdonald, the Scottish hotel group's chairman, made an offer to buy the owners' weeks at the Highland Club's 85 time-share properties.
Macdonald said it had had interest from owners holding about a third of the total weeks available at the resort, but this fell short of the 50% required to allow the offer to progress any further.
A spokesman for Macdonald said: "As a company, we will be continuing to look at ways in which we might be able to help the significant number of owners who, for one reason or another, are disenchanted with the present situation at Loch Rannoch."
Eddie Monks, director of Time Share Management Services, which has run the Highland Club for the past two years, said: "The fact Macdonald did not get enough votes is a clear reflection that more people are happy with the current management company."
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