Glencoe ski resort goes local in bid to unlock funds

• Glencoe

Falkirk businessman Andy Meldrum led a consortium that bought Glencoe for an undisclosed sum last October from investment fund manager David Campbell. He believes it urgently needs major investment, and that turning it into a CIC is the best way to get it.

Instead of the shareholders taking a share of the profits, a CIC ploughs the profits back into developing the facilities.

"Obviously this restricts us profit-wise, but CIC status opens doors to funding streams – European funding, Lottery funding – that we wouldn't otherwise be able to access," Meldrum said.

According to the Regulator of Community Interest Companies and the Registrar of Companies, there are 138 CICs in Scotland. Some of the most successful include city council-owned Culture and Sport Glasgow, community lender Scotcash, the Isle of Skye Ferry Company and Bookdonors.

Glencoe was Scotland's first commercial ski centre when it opened in 1956, but in recent years it has struggled to remain viable without summer attractions. Some of its ageing infrastructure needs an overhaul.

"A lot of the infrastructure here on the hill is 40 or 50 years old. If Glencoe's going to thrive and go forward we're talking about a seven-figure investment," Meldrum said.

Glencoe's operations manager Bobby Munro agreed: "If you gave me a million pounds I could spend it on this place and you wouldn't even notice. You'd come back next year and ask: 'What did you do with my million pounds?'"

If Meldrum's CIC application is successful, and he is able to tap into previously unavailable funding streams, he has big plans for the resort beyond simply upgrading what's already there.

To help boost trade during the summer months he hopes to add three new mountain bike trails, an adventure playground and accommodation for hikers walking the West Highland Way.

There are also plans to build a dry ski slope at car park level, so people can ski even when there's no snow, or when the top of the mountain is stormbound. A big part of the battle, he believes, is persuading people in the central belt to ski at Glencoe into the spring.

He said: "Glencoe has a great snow-holding record, so we're normally still skiing well into April.

"Often, though, we have to shut our doors, not because of a lack of snow, but because of a lack of people. It's probably our biggest frustration.

"Come the end of March, once the snow disappears from the central belt, people think Scottish skiing's finished but some of the best skiing is in April when the sun's out and you can ski in your T-shirt."

Whatever happens at the tail end of this season, Meldrum and his new team have got off to a flying start, with more than 7,000 skier visits since they opened on 28 December. Last year's total figure was 13,836, and the resort didn't open until mid-January.

"To break even, we basically have to do about the same as last year," said Meldrum. "But at the moment it looks like we're going to be way ahead of that."

Glencoe has strong community support. When it looked as if the resort was going to remain closed through the 2009/10 season, more than 3,000 people signed an online "Save Glencoe" petition to be sent to the Scottish Parliament.

After Meldrum's last-ditch rescue bid, teams of local skiers volunteered to help with vital maintenance work so the resort could open in time for the first major snowfalls of the season.

Asked if he would be tempted to throw in the towel if the application for CIC status is denied, he said: "No, this is it," he said. "It's do or die. We'll make it work or go down in flames. But we won't go down in flames. With the people we've got, and the plans we've got, I think we'll survive."