New chain expected
Chinese investor acquires first Scots hotel
A Chinese investor has made his first foray into the UK by acquiring Rosslea Hall Hotel near Helensburgh for an estimated £2 million.
The investor, Tom Xu, has taken on the property free of management and branding and is expected to reposition it in the market as the first of a new chain.
JLL advised the vendor, BDL Select Hotels on the sale of the 30-bed hotel in the village of Rhu, overlookng Gare Loch. The final deal was undisclosed but it had an initial guide price of £2m.
Mr Xu said: “We are delighted to acquire Rosslea Hall as our first hotel asset in the UK.
“The hotel has an excellent reputation in the local area, given the service provided by the team. We will continue the business as usual and work alongside the team in delivering the next, and better, chapter of the Rosslea Hall Hotel.”
Neil Milligan, a hotels specialist at JLL, added: “This hotel offers a great mix of both corporate and leisure guests.
UK law firm Shepherd + Wedderburn acted as legal adviser for BDL Select Hotels.