The above hotels were part of a portfolio of 36 hotels owned by Folio which went into administration in early December 2008. Eighteen of these have now ben acquired in a management buyout by Mulbourn.This is a group of 13 former managers with Matthew Welbourn as Managing Director and Alan Murray as Finance Director. The two men held the same posts under Folio, which will continue to be their flag of convenience.

The deal takes Folio out of administration and saves a total of 1,200 jobs across scotland, 76 of these in Ballachuislish and Glencoe and 36 in Oban.