§ Mr. Alexander
asked the Secretary of State for Transport how many sales of British Railways Board owned hotels in Scotland have taken place in the past five years; which hotels they were; and what was the price obtained in each case.
§ Mr. Eyre
The Railways Board has sold 4 of its Scottish hotels in the past five years. In June 1981, the Gleneagles hotel and the North British and the Caledonian hotels in Edinburgh were transferred to a new private sector company, in which the board retained one-third of the equity. The board received £5.85 million in cash and258W £4.5 million in shares and loan stock. In January this year, the board sold the Old Course Hotel, St. Andrews, outright for £1.35 million in cash.