Buyer adds to Scottish portfolio
Britannia buys 175-bed Colyumbridge Hotel in Highlands
Britannia is the Colyumbridge’s second owner in a year
The Coylumbridge Hotel, near Aviemore, has been sold to Britannia Hotels, the UK’s largest private hotels group.
Situated in a 65-acre estate on the edge of the Cairngorms National Park, the 175-bedroom hotel has five dining rooms and two bars, an on-site adventure play park, two pools and spa facilities.
It becomes Britannia Hotels’ 61st hotel and fifth in Scotland, which is becoming a major profit contributor to the group. Its other Scottish hotels are in Aberdeen, Peterhead, Edinburgh and Prestwick.
The Cheshire-based company’s latest acquisition – for an undisclosed sum – comes within a year of private investment firm Starwood Capital Group buying it from fellow US company Park Hotels and Resorts, along with six other hotels, in a £135 million deal.
Coylumbridge Hotel – then operating under the Hilton brand – was on the market for £8.75m when Starwood swooped to buy it.
It was built for just £700,000 in 1965 as the winter sports industry was developing at the nearby Cairngorm ski area. At the time, it was one of Scotland’s largest hotels.
Jeremy Jones, head of brokerage – hotels at Christie & Co, handled the sale. He said: “The purchase of the Coylumbridge Hotel marks Britannia Hotels’ 7th acquisition in 2018 bringing the group total to approaching 12,000 guest bedrooms.
“We anticipate that further acquisitions will be announced by Britiannia Hotels during 2019.”