Page 29 - Stakis A Case Study

Eventually, in 1986 The Aviemore Centre itself was
purchased from House of Fraser for an estimated £800,000.

At the time of the announcement the then Stakis managing

director, John Loughray, expressed his delight at the

acquisition and stated,

"The Aviemore Centre has brought considerable

prosperity to the Spey Valley and it is our intention, in

time, to bring our considerable experience in the hotel

and leisure industry to bear on further developing the

original excellent concept of an international

all-year-round resort in the Cairngorms."

Alan Devereux, chairman of the Scottish Tourist Board

welcomed the takeover and said that the board had offered

the new owners every assistance possible in developing the

centre to match the needs of tomorrow's leisure holiday-

maker and business traveller

In 1988 the company estimated that it had already invested

£20 million in the Aviemore area. It had plans for further
developments including a water-sports centre, a heritage

centre, a `high-tech' cinema and a retail shopping area.

These initiatives, however, depended upon the provision of

supporting public sector funds.