BDL Management, a Glasgow-based multi-brand and hotel management company for both branded hotels and standalone hotels, has bagged a ten-year project management contract for a new 100 bedroom hotel being built on Shetland island, Scotland.
The company has secured £6.5m financing from Royal Bank of Scotland Corporate & Institutional Banking for the contract.
Work on the hotel, located in Brae, commenced on 20 August 2012.
The hotel, which will feature a gym, restaurant and bar, is expected to be opened in late summer 2013.
Initially, the property will be used to provide accommodation to workers of French multinational oil and gas company Total’s £500m gas plant at Sullom Voe.
Since announcing plans in February 2012 to double its portfolio of properties over the next three years, BDL Management has secured nine new hotel management contracts.
The contracts place BDL well ahead of its target to add 30 new properties to its portfolio by the end of 2014, expanding it to 75 hotels.
BDL Management managing director Stewart Campbell said that the strong start to the year puts the company in a good position for its longer term business targets.
"We have an equally strong pipeline of activity for the remainder of the year, which we aim to end with a total of 50 properties in our portfolio, and are already looking ahead at key opportunities for 2013," Campbell added.
As of November 2011, BDL has built 30 hotels and managed 45 hotels under management contracts.
The hotel management company has forged working relationships with Wyndham Hotel Group, InterContinental Hotels Group (IHG) and Best Western.
With IHG, BDL has developed and managed the limited service Holiday Inn Express, the mid-market Holiday Inn, the extended stay Staybridge and the four-star deluxe Crowne Plaza brand, whilst exploring development of the Indigo brand.
With Wyndham Hotels Group, BDL has developed lifestyle brand Ramada Encore in the UK, besides operating a portfolio of core brand Ramada hotels.
BDL currently manages a number of independent hotels across the UK such as The Bedford Swan, The Point Edinburgh, Five Lakes Golf & Spa Resort and Landmark Dundee.
Photo: The new 100 bedroom hotel, located in Brae, is slated to open in late summer 2013. Image: BDL Management Ltd