Colliers finds buyer
Troon golf hotel sold in £7 million deal
One of Scotland’s best known golf hotels has been sold in a deal thought to be worth about £7 million to two investment companies.
The Marine Hotel, on the edge of the 18th hole of Royal Troon Golf Course, host for next year’s Open Championship has been sold by the Hotel Collection to a joint venture between Cannock Investments and Hetherley Capital Partners. The deal was brokered by Colliers International.
Built at the start of the 20th century, the four-star property has already witnessed eight Open Championships at Troon. With 89 bedrooms, it provides guests with spectacular views across the Firth of Clyde to the Isle of Arran and Ailsa Craig.
Julian Troup, head of UK hotels agency at Colliers, said: “It has been a privilege to act on the sale of such a world-renowned property. As we expected, it attracted a huge amount of interest from both UK and international buyers when it hit the market.
“Its iconic position overlooking the 18th hole of Royal Troon Golf Course makes it truly unique and I’ve no doubt the new owners will have ambitious plans for The Marine.”
Charles Scudamore, principal of Hetherley Capital Partners, said: “We are obviously delighted to have acquired such a unique hotel with its own sense of identity and rich heritage.
“Looking at the history of the Marine Hotel, we were immediately taken by its reputation as one of the leading hotels in Scotland and more specifically the importance of the hotel to Ayrshire and its residents.
“We recognise the hotel needs investment to restore its former glory and we are committed to conducting those works as sympathetically as possible. 2016 is obviously a big year for the hotel and for the town of Troon itself and we look forward to playing our part.”