The Crieff Hydro Group has purchased two hotels that are two miles apart in the western Scottish Highlands, bringing the group’s portfolio to six. The Isles of Glencoe Hotel and the Ballachulish Hotel, which have 112 rooms between them, were acquired for an undisclosed sum.
The Group has managed both hotels for the past two years, during which time business has “improved substantially, the number of employees had grown and the long-term future of the two hotels had been secured.” The company reportedly worked with Santander bank to finance the purchase of the two Lochaber hotels.
Crieff Hydro reported group revenue of £24.2 million for the year to February 29 when it released its annual accounts earlier this year. In addition to Crieff Hydro Hotel and Murraypark, in Perthshire, it owns two hotels in Peebles, the Peebles Hyro and The Park. It also manages the Yorkshire Hotel, in Harrogate, and the Oban Caledonian Hotel.