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Skye Hotel Secures Six-Figure Bank Support To Counter COVID Effect

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Skye Hotel Secures Six-Figure Bank Support To Counter COVID Effect

Skye Hotel Secures Six-Figure Bank Support To Counter COVID Effect
June 02
10:34 2020

A well-known hotel on the Isle of Skye has secured its immediate future with the support of its bank.

Kinloch Lodge, a family-run 19-bedroom hotel that relies heavily on revenue from international tourists, lost over 1,000 bookings from March to June, forcing it to temporarily close and furlough all 32 members of staff.

However, Bank of Scotland via the UK government’s Coronavirus Business Interruption Loan Scheme (CBILS) , allowing it to trade through the pandemic until travel restrictions are lifted, as well as pay suppliers.

Keeping the lights on: Kinloch Lodge has secured a six-figure loan via its bank to keep it going through the Coronavirus crisis

With 75% of bookings from international travellers, the hotel was among the worst affected on the island when travel restrictions came into force in March.

Director, Isabella Macdonald, said:Most businesses in the Highlands experience quieter trading periods during the winter, so we tend to rely on our spring and summer months. Unfortunately, when the ban on non-essential travel hit in March we went from being fully booked to nothing, almost overnight.

‘Thanks to the support from our bank, we’ve been given the breathing space needed to allow us to pay our suppliers and overheads, and we now look forward to welcoming our team and guests back when the restrictions are eased.

‘Despite our bookings normally being largely made up of international travellers, we’re hopeful for a rise in UK staycations and a busy end to the year for our business.’

Barrie Aird, relationship manager at Bank of Scotland, added: ‘Kinloch Lodge has been operating for almost 50 years and we’re committed to supporting businesses like this as they navigate these challenging times.’

www.kinloch-lodge.co.uk

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