Madonalds Rusacks Hotel in Scotland has been acquired by Adventurous Capital (AJ) Capital, a Chicago-based real estate developer.
The company plans to expand the bedrooms and introduce a new rooftop bar and restaurant, with pre-design work due to start this month following the sale.
The renovation project will then begin in spring 2020 with an aim to be completed by summer 2021.
The new-look hotel will boast 44 new bedrooms, taking the total room count to 114, while the new bar and restaurant will overlook the 18th hole.
The renovations will also stretch to the three food and beverage concepts at the hotel and the 1,300 sq ft of meetings and events space, as well as all the current bedrooms.
This marks the second acquisition by AJ Capital from the Macdonald Hotels & Resorts portfolio in addition to the Randolph Hotel in Oxford, which upon renovation will join the Graduate Hotels collection.
“St Andrews is one of the most iconic destinations in the world, and our team is honoured to embark upon bringing our unique approach to hospitality to this incredibly historic and inspiring community,” said Ben Weprin, CEO and Founder of AJ Capital Partners. “We look forward to creating an experience for both guests and locals alike that celebrates and commemorates St Andrews’ storied past for years to come.”