Adventurous Journey (AJ) Capital has acquired its second property in Scotland, UK as the company strengthens its footprint in across the country.
The Chicago-based real estate developer has snapped up Macdonald Marine Hotel & Spa in North Berwick, Scotland and now has plans to renovate and reopen the property with updated bedrooms and F&B offerings.
The 83-bedroom hotel will undergo a renovation in autumn 2020.
This marks the third acquisition by AJ Capital from the Macdonald Hotels & Resorts portfolio.
AJ Capital recently acquired the Randolph Hotel in Oxford, England, which will join the Graduate Hotels collection next summer, and the Rusacks Hotel in St Andrews, which will be renovated and reopened in time for the 150th Open Championship in July 2021.
Once completed in spring 2021, the new-look Macdonald Marine Hotel & Spa will debut with 89 bedrooms, two food and beverage concepts, expansive meeting and event space and an indoor-outdoor spa and fitness center.
“Our team is humbled by the opportunity to create a distinct and inspiring hospitality experience along Scotland’s historic Golf Coast,” said Eric Hassberger, partner and chief operating officer at AJ Capital Partners. “We look forward to welcoming golf and leisure travelers alike to both the Rusacks Hotel in St Andrews and the Marine Hotel in North Berwick, and pairing these two incredible destinations to deliver unforgettable experiences for generations to come.”