THE richest man in Scotland has lost more than £33 million on his main hospitality business, according to recent annual accounts.
Danish billionaire Anders Holch Povlsen, who is the majority shareholder in online fashion giant Asos, has spent millions buying around 220,000 acres in Scotland over some 20 years and is the country's largest private landowner.
Annual accounts for his estate management company WildLand, which is Povlsen’s main Scottish business, showed an increase in turnover from £4.1m to £5.9m for 2025.
The firm, which was established in 2007, operates a number of properties, including Aldourie Castle on the banks of Loch Ness, the Lundies House hotel in Tongue, and the Killiehuntly Farmhouse and Cottages near Kingussie.
READ MORE: Bid to replace B-listed Scottish hotel's distinctive dome after storm damage
In July, Povlsen’s company restored three private holiday homes on the shores of Loch Ness, charging holidaymakers wishing to stay in the properties from £470 to £720 per night.
According to The Times, Povlsen said that the spending on revamping his new £1100-a-night eco-retreat named Hope Lodge, which is scheduled to open in May, was one of the main reasons WildLand posted a pre-tax loss of £33.6m.
The financial hit included £23.8m writing off loans and impairments on the value of its assets.
In the previous financial year, WildLand had recorded a pre-tax loss of £8.1m.
Accounts lodged at Companies House also showed Wildland operated at a loss of £9.7m, compared with £8.7m in the previous financial year.
Writing in the company's accounts, Povlsen attributed the financial hit to large-scale investment in properties like Hope Lodge, near Ben Hope, in Sutherland.
He said: “While the group reported financial losses for the period these were reflective of the scale of investment made across key areas of the business.
“The group has made substantial progress in enhancing its delivery capability particularly in preparation for the launch of Hope Lodge in 2026.
“This has involved considerable capital and operational investment including recruitment, training, systems development and refinement of existing hospitality operations.”
READ MORE: Plans for sauna in Loch Ness pub owned by Anders Holch Povlsen
The billionaire has previously said WildLand was established in a bid to support conservation efforts and protect some of Scotland’s most scenic landscapes.
Povlsen went on: “Land and buildings continue to benefit from sustained investment ensuring that the natural and built assets, upon which Wildland’s purpose and business are based, are maintained, nurtured and improved.”
He added: “The group’s net asset position remains strong, supported by the ongoing investment in hospitality and landscape conservation.”
Povlsen's first purchase was the 42,000-acre Glenfeshie estate in the Cairngorms, which he bought for £8m in 2006. The lodge there serves as his private Highland home.
In 2019, it was reported that Povlsen’s Wildland Ventures Limited had taken control of the North Coast 500 Ltd.
The billionaire’s project says on its website that it is a “200-year vision of landscape-scale conservation in the Scottish Highlands”.
According to Wildland's accounts, the ultimate parent company is Povlsen's Denmark-based investment firm Heartland A/S.
Povlsen was named the richest person in Scotland in last year’s Sunday Times Rich List after his fortune grew by £974m, with him worth around £7.7 billion.
