Property developer Forrest moves into hotel market

17 April 2007 by
Property developer Forrest moves into hotel market

Retail and leisure focused property developer Forrest has announced that it is moving into hotel development.

The company's first foray into the market will be a £40m 150-room property along with River Clyde in Glasgow.

In quotes carried by Caterer sister title Estates Gazette, Forrest managing director Donald Stewart said: "We have enjoyed success specialising in out-of-town retail and leisure developments and remain committed to that business.

"However, this site purchase and our plan to develop a three or five-star hotel is something completely new and exciting for us."

Chief executive Chris Trainer added that there was potential for hotel developments on several other sites in Forrest's portfolio.

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By Daniel Thomas

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