The owners of the Fife Arms in Braemar have underlined their long-term commitment to the North-east with record sales, rising visitor numbers and major community investment.
New accounts show Artfarm Ltd, the UK arm of the Swiss-owned Artfarm Group, recorded a loss of £11.4million last year, up from £6.6million.
However, turnover climbed to £20.2million from £17.3million, with staff numbers also rising sharply from 389 to 479 as the business expanded. Directors said the business remains in a “development phase” as it expands its portfolio across Scotland and beyond.
The Fife Arms continues to shine as the group’s flagship, with occupancy increasing to 76% and operating profit before one-off costs up 16% to £2million. The luxury hotel also secured two Michelin keys and was named Conde Nast Traveller UK Readers’ Choice No. 1 Hotel.
You can read more about the firm's latest financial results here.
Artfarm is also investing heavily in local communities, supporting the Braemar Literary Festival, which took place over the weekend, and acquiring Braemar Kirk to grow its hospitality offer.