Strathmore Hotel Group buys Ben Wyvis Hotel in Strathpeffer from Crerar Hotels in £2.5 million deal
A LANDMARK Ross-shire hotel has been sold for £2.5 million.
The Ben Wyvis Hotel, which is located in the heart of Strathpeffer, changed hands this week. The deal will see the 92-bedroom hotel, which also boasts a large bar, restaurant and cinema room, taken over by the family-run Strathmore Hotel Group.
The deal was brokered by the specialist hotels and agency team at real estate advisers Colliers International, who acted on behalf of the Crerar Hotel Group.
Strathmore Hotels, which is owned and run by the Rickard family, has seven other sites – including two hotels in Fort William, another in Nethy Bridge, one in Oban and a property in Perth.
Chris Rickard of Strathmore Hotels said: “I have been a long-time admirer of Crerar Hotels and I am delighted that we are able to add the Ben Wyvis to our portfolio.”
Paddy Crerar, the chief executive of Crerar Hotel Group added: “The sale of the Ben Wyvis is another key milestone in our right-sizing strategy – the capital released by the sale will be fully reinvested in our core properties taking us even closer to achieving our aim of being Scotland’s highest quality family of hotels and inns.”
Colliers International said the deal reflected increasing interest in the Scottish hotels market.
Julian Troup, head of UK Hotels Agency at Colliers International, said: “We have found that the whole of Scotland has increased in popularity in the last three or four years.
“The main drivers have come from both overseas buyers and the national growing confidence in resident buyer’s belief in the security of the hospitality industry.”