Jupiter deal

Thai-based hotelier buys Mercure Perth hotel

New owner: Mercure Perth Hotel

Mercure Perth Hotel has been sold to the Thailand-based owner of Jupiter Hotels for about £2.25 million. The property has an unexpired long leasehold term of 46 years.

The hotel is a 15th century converted watermill with 76 en-suite bedrooms, restaurant, bar and conferencing facilities with views of the City Lade in the heart of the city.

Dirk De Cuyper, CEO of S Hotels and Resorts, owner of Jupiter Hotels, said: “The Mercure Perth is a key location and an important part of our portfolio in the UK. We will now be embarking on a refurbishment programme.”

Steven Fyfe, associate director in the hotel capital markets team at Savills Glasgow, said: “Perth is an established tourist destination which has benefited from the rise of staycations within the UK, making this an extremely attractive acquisition.”

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