Crieff Hydro group expands portfolio
The Crieff Hydro hospitality group has expanded its portfolio after signing two new hotel management contracts and the operating lease on a cafe.
The group will now manage The Green Hotel in Kinross and Kings House Hotel in Glencoe.
It will also operate the Peel Café at Glentress in Peebles.
The leisure group, which made £24.3m last year, now comprises 10 hotels including properties in Crieff and Peebles.
Crieff Hydro purchased west coast hotels The Isles of Glencoe and The Ballachulish in August.
The Green Hotel complex also includes the adjacent Windlestrae Hotel in Kinross.
Both hotels are owned by the Montgomery family, who bought the Green Hotel in 1926.
Owner Jamie Montgomery said: "Having Crieff Hydro manage our hotels is the start of a new chapter.
"As well as benefiting from the experience of the management team at Crieff Hydro, I am also pleased to announce that we will be investing a six-figure sum in upgrading and refurbishing both hotels."
Crieff Hydro's head of finance, Matthew Garstang, said: "Taking these hotels under our management has really highlighted the benefit of being part of a wider group.
"We have seen significant savings in the purchase price of almost all that the hotel buys, because we are working as one larger collective."