Jim Parker: Is Keith finally ready to call it a day at Torquay's Grand Hotel?

You won’t hear him admit it but the Grand Hotel has always been Keith Richardson’s pride and joy, his kind of baby and he has always managed to keep it going and under his ownership even during some of the most extremely challenging financial times.

But is that all about to change?  Is he ready to let go? 

Battered by a battle with the taxman a few years ago and currently trying to find a way through some complicated and over-expensive property deals, the well-known hotelier has another foe knocking on the door - the government and their policies.

Increased wage levels and National Insurance contributions as well as the cost of living and dearer food and energy bills plus a looming holiday tax are taking their toll on businesses and business people like Keith Richardson.

Re: the Grand, Keith says: “I don’t know about the Grand being my baby. It is my biggest hotel. It is not currently up for sale. I am contemplating. I am travelling light and in a state of flux. I do not know what tomorrow will bring.”

As for life?  “It is awful at the moment. Life is really unpleasant. It has gotten worse. It is all disgusting. There is just nothing to be happy about out in the big wide world.”

He owns the Grand and Royal Beacon Exmouth and gives an example: “Staffing is seasonal. We have about 90 at the Grand. That is a high percentage when you are talking about National Insurance. It is just horrendous.

“The government seems to think they can dip their hands into a businessman’s pockets ad infinitum.

“What is the incentive for me? Life is really difficult. I am not exaggerating. The whole landscape is not pleasant. I do not know what you are supposed to do about it,” says Keith.

He bought his first hotel in 1988. At one stage Richardson Hotels owned seven hotels across Devon and Cornwall, now he is down to just the two.

One of the turning points in Keith’s ownership career came in 2018 when his hotel group entered administration due to a reported £600,000 unpaid tax bill.

A hefty sum forked out on the nearby Abbey Sands hotel and a doomed partnership with celeb chef John Burton Race and a John Burton-Race Restaurant with Room business didn’t help.

To appease creditors Keith eventually sold his hotels in Cornwall and liquidated personal assets like a Rolls Royce, helicopter and yacht.

He was suddenly debt and mortgage free. He kept the Grand and Royal as well as the Abbey Sands before it was disposed of last year.

He was able to embark on a couple of property deals which haven’t exactly gone according to plan.

Plans to turn the Royal Beacon into apartments have hit a listed building hitch, a scheme to transform the former Municipal building at Castle Circus in Torquay is progressing but has cost more money than expected, a scheme to develop the former magistrates court into flats has been held by a complicated contract clause and the Old Town Hall in Torquay town centre was sold not too many months after Keith had originally bought it.

Apart from that all is well!

He says: “There is a listed building problem with the Beacon and its ballroom. Three apartments at the Municipal building are complete with another four to go but that has still cost more than expected.”

He paid around £500,000 for the old courthouse but a contract  clause complication with the Ministry of Justice is holding up any potential development there.

He says: “I have written to our MP Steve Darling to see if he can help.

“I have somebody who wants to do the development but the government is stopping them from doing it.

“Torbay is going to have a derelict building in Torquay town centre for the next five to 10 years. It keeps getting broken into and it is uninsured now.”

On a personal level, Keith has sold his cottage in Coffinswell and now lives in Wellswood.

He still spends most days in the Grand and like clockwork you will find him eating cheese and apple every lunchtime at the same time.

He is 87. “I am knocking on a bit, but I am fit and well,” he says.

He emphasises again: “I am contemplating and traveling light like my mum said she was when she turned 80.”

Then he throws in a saying to end the quick chat which is new to me.

“I don’t buy green bananas,” said Keith.

I believe the translation is: “I am not planning that far ahead.”

Read into that what you will …