Scotland business

Developer Hazledene secures Italian ski resort deal

Pragelato ski village
Image caption The resort is based in the Italian Alps, about 50 miles to the west of Turin

A Scottish developer which last year bought a former Olympic ski centre and spa in the Italian Alps has secured a multi-million euro deal to lease the resort.

Hazledene Group said French holiday firm Club Med would lease the Pragelato Ski Village for the next 15 years.

The Edinburgh firm bought the resort in 2011 in a deal worth 30m euros.

The village was originally built for the 2006 Winter Olympics.

The resort's future had been uncertain after a consortium which originally owned it ran into financial difficulties.

Since the acquisition was completed, four new ski runs have been added to the resort which lies 50 miles to the west of Turin.

The village, originally built at a cost of more than 100m euros, includes 280 individual chalets.

Hazledene chief executive Mark Shaw said: "Pragelato has always had enormous potential as both a winter and all-year-round resort.

"The partnership with Club Med will undoubtedly help to fully realise that potential."

The resort was purchased after Mr Shaw completed a number of developments in Scotland, including the iQ office complex in Aberdeen city centre.

That complex is now occupied by the Wood Group and by energy giant Centrica.

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