With work about to start on the Burghfield House Hotel to turn it into a hospitality training centre for the North Highland College. and the 24-bedroom Royal Golf Hotel, bought earlier this year by a consortium of businessmen headed by David Sutherland, chairman of Tulloch Homes, has now been closed for two years.
"There is a difference between applying for planning permission and going ahead with a project," said Colin Thompson. "We're confident the market is there, but obviously undertaking such a project will involve us borrowing money. We'll be proceeding with extreme caution and prudence and have not set a timeline given current economic events. Once planning consent is granted, it stays in force for five years and I'd like to think everything will be done well inside that time frame."