International company acquires Lake of Menteith Hotel
INTERNATIONAL travel company Karma Group has added the Lake Of Menteith Hotel in Stirlingshire to its portfolio of more than 40 hotels and resorts around the world.
The company, which was established in 1993 by John Spence, acquired the leasehold of the 18-bedroom hotel – its first acquisition in Scotland.
The sale was brokered by property firm Drysdale & Company, which was appointed by Fleming Homesteads – operator of the business for the past 17 years – to find a buyer for the leasehold.
Drysdale & Company’s Stuart Drysdale said: “After a short marketing campaign we were able to set a closing date due to the high levels of interest and seven offers were received, reflecting the unique opportunity the Lake of Menteith Hotel presented.
“Our client, Ian Fleming, has established the business as a quality destination venue for locals and visitors to the area, many of whom use the hotel as a base to explore the wider area around Loch Lomond and Aberfoyle.
“The proximity to Glasgow and Edinburgh also makes the hotel a great venue for short breaks away, with the lake itself being extremely popular with anglers, and also the ferry which provides access to Inchmahome Priory on one of the islands on the lake.
“We wish Karma Group all the best with their latest acquisition which highlights the optimism and drive that existing operators have in the Scottish hospitality market as we move into 2022 and beyond.”
Karma Group founder John Spence said: “This is our first property in Scotland and one that captures all the rural charm, timeless traditions and warm hospitality of this historic and beautiful land.”
