The 72-bedroom Scotland’s Hotel & Leisure Club in Perthshire has been sold to Irish-owned CastleCollection.com in a ‘highly confidential’ off-market deal.
The deal marks the family-run group’s seventh acquisition across Scotland, Ireland and Wales, with £2m now set aside to transform the hotel into a ‘modern metro’ boutique hotel with a spa under its new ownership.
Scotland’s Hotel & Leisure Club came with a guide price of £2.5m and was sold by Crerar Hotels, who has retained Colliers International to assist in disposing of a further cluster of their hotel portfolio.
The sale of the property in the town of Pitlochry is said to be a ‘further example of domestic and overseas buyers looking to buy in a prime Scottish location’.
The hotel comprises 72 bedrooms, lounge, restaurant and swimming pool, with planning consent for an additional 24 bedrooms.
CastleCollection.com is owned MacCumhaill family, who also run Fishers Hotel and Atholl Palace, also in Pitlochy, under the brand umbrella.
Fionn MacCumhaill, managing director of the CastleCollection.com said: “We are delighted to add Scotland’s Hotel & Leisure Club to our collection. Pitlochry is a great choice for staycation tourism and we aim to create a modern metro boutique hotel with spa to grow this segment of the market.”
Paddy Crerar from Crerar Hotels, concluded: “Our strategy is on track to `right size` our Scottish portfolio and we are well on with significant investment and development of the majority of our retained hotels. Colliers have been instructed to market a further three of our hotels, each of which are solid highly profitable performers in great locations – as a group of three they are a very attractive opportunity following Colliers advice on a portfolio pricing approach.”