Scotsman Hotel Group bought from administration

Saudi businessman Sheikh Mohamed Bin Issa Al Jaber has bought his Scotsman Hotel Group out of administration after resolving a court battle with Standard Bank Group.

The group owns three hotels — 42 The Calls in Leeds, England, Hotel de la Trémoille in Paris and Scotsman Hotel in Edinburgh, Scotland.

Al Jaber, one Saudi Arabia’s richest persons, was embroiled in a dispute with Standard Bank about US$150 million in loans that had led to a court order entering the hotel group into administration.