NEW YORK Plans to build an $80.3 million golf resort and 180-room five-star hotel at Scotland s East Lothian Archerfield Estate have suffered a major setback following Sir Rocco Forte s withdrawal from the project.
It was reported that the deal fell apart following a disagreement between RF Hotels and the development company Caledonian Heritable over the size of the golf courses and the number of houses planned to be built. RF Hotels is now thought to be actively seeking an alternative site in Scotland.
Meanwhile, the owner of Caledonian Heritable (who holds a 50% stake in the Archerfield Estate), vowed that the project would continue. (2/9/01)
SOURCE:HVS International