Skibo Castle members' club still losing money

Skibo Castle, the exclusive Scottish Highland resort that hosted the wedding of singer Madonna and film director Guy Ritchie, is still losing money, according to its latest financial accounts.

Although turnover at the exclusive private members' resort rose by 5% to 7.1m in 2004, operating losses were up from 149,000 in 2003 to 248,000.

The castle was sold by entrepreneur Peter de Savary to a small group of members in 2003 and was converted into the Carnegie Club.

eter Crome, managing director of the Carnegie Club, said that the club had invested 4m in the estate and the castle, and was concentrating on the services it provides to its private members.

Crome said: "We have consciously decided to operate Skibo first and foremost as a private members' club and put the needs of our members ahead of short-term profits."