New owners plan to revamp accommodation businesses
TWO Highland hotels have changed hands after more than a quarter of a century under the same ownership.
Acting on behalf of Highland Value Hotels, property agent Colliers International handled the sale of the Breadalbane Arms Hotel in Aberfeldy, Perthshire, and the Star Hotel in Kingussie, Inverness-shire, for an undisclosed sum from their asking prices of £375,000 and £650,000 respectively. Highland Value Hotels has owned and operated the Star for 28 years and the Breadalbane Arms for 26 years.
The hotels each have 35 bedrooms and are said to primarily cater for the “value for money” end of the accommodation market, while the hotel bars are said to attract a strong local clientele from their respective areas.
There remains strong demand for value for money accommodation.
Colliers International director Alistair Letham said the new owners have retained the existing staff and management teams and plan to refurbish both hotels.
“There remains a market for value for money accommodation for those visitors to Scotland whose main interest is the outdoor pursuits offered by the Highlands of Scotland and both the Breadalbane Arms and Star hotels met this demand,” he said.
“The sale of the hotels signals that, even in these difficult economic times, purchasers have the vision to realise that there will remain a demand in this sector of the hotel accommodation market, although there will be the need to increase and maintain standards.”
Image – The 35-bedroom Star Hotel has a prominent main road location in Kingussie.