Developer unveils ₤100m buy-to-let hotel scheme

Source/Contact: Caterer and Hotelkeeper, 01/05/2008

York-based developer The Skelwith Group has unveiled plans to build a ₤100m luxury hotel in the area with rooms for sale to investors.  The five-star Flaxby Country Club will have 300 room, four helipads, three restaurants, a luxury spa complex, a bar and conference facilities.  Work on the hotel, located between Harrogate and York, will start later in the year and is set for completion in 2011.  Individual rooms will be sold to investors with prices for a standard room starting at ₤90,000, in a model piloted by GuestInvest.  The company is promising “guaranteed returns” of 7.5% for eight years.