Irish group Castle Collection buys third Perthshire hotel
An Irish-owned hotel group has bought its third hotel in Perthshire.
Dublin-based Castle Collection bought the 72-bedroom Scotland's Hotel & Leisure Club in Pitlochry from the Crerar Hotel Group for an undisclosed sum.
The guide price for the property and business was £2.5m.
Castle Collection, which is owned and run by the MacCumhaill family, already owns Fisher's Hotel and Atholl Palace in Pitlochry.
The company said it would be investing a further £2m over the coming year to develop Scotland's Hotel into a "modern vibrant metro boutique hotel".
Castle Collection owns four other hotels in Ireland and Wales.
'Heart of Scotland'
Fionn MacCumhaill, managing director of the Castle Collection, said: "We are delighted to add Scotland's Hotel & Leisure Club to our collection, which will strengthen the hotel base and tourist offering, in what we believe is the heart of Scotland.
"Pitlochry is a great choice for staycation tourism and we aim to create a modern metro boutique hotel with spa to grow this segment of the market."
The off-market deal was facilitated by real estate firm Colliers International, which has been instructed to market a further three unspecified Crerar hotels as part of the group's plans to restructure its portfolio.
Crerar Hotels chief executive Paddy Crerar said: "Our strategy is on track to 'right-size' our Scottish portfolio and we are well on with significant investment and development of the majority of our retained hotels.
"Once our investment plans are complete, we believe Crerar Hotels will be one of the country's most desirable hotel groups of the highest quality."
Crerar's portfolio includes hotels in Nairn, Inveraray, Inverurie, Oban, Elgin, Grantown-on-Spey and Isle of Mull.