The Glenburn Hotel in Rothesay has been saved from demise as it’s sold to a UK hotel firm.
Bespoke Hotels, the UK’s largest independent hotel group, has taken ownership of the Isle of Bute hotel.
The grand island property, which was home to Scotland’s first hydrotherapy pool, was placed on the open market for £1.1million after it plunged into administration.
Administrators Stuart Robb and Chad Griffin, partners with FRP Advisory, have confirmed the 19th century property has now been sold to the British hotel group for an undisclosed fee.
Hillside hotel to be revived
Plans have now been unveiled by the new owners to reopen the premises “very soon” to help bolster employment on the west coast island.
Haydn Fentum, chairman of Bespoke Hotels said: “We are delighted to have agreed a deal with FRP to acquire the Glenburn Hotel and look forward to integrating it into our expanding portfolio.
“We hope to reopen the hotel very soon and have exciting plans to invest in the business and create new jobs and will be announcing our recruitment plans in due course”.
The firm currently owns 90 hotels across the UK, including 23 across Scotland.
The hilltop property was originally built in 1843 before opening for business as a classic grand seaside destination in 1892.
The Glenburn Hotel, which overlooks Rothesay Bay, was extensively refurbished in 2016, featuring 134 guest rooms, a ballroom, restaurants, bars and a terrace.
The premises has been shut to customers since November 2020.
Officials blamed cash flow problems, caused by the coronavirus pandemic, as the reason for the firms collapse.
Mr Robb said he looks forward to seeing the hotel back open for business in the near future.
“We are very pleased to have sold The Glenburn Hotel, which is one of Scotland’s most prominent hotels with a long history stretching back to its opening as a grand seaside hotel in 1892,” he said.
“We wish Bespoke Hotels every success with The Glenburn Hotel and look forward to seeing the hotel reopen.”
CDLH acted for the joint administrators as selling agents for the hotel.
Alan Creevy, director of CDLH added. “As expected, there was a great deal of interest in the property resulting a competitive bidding process.
“Bespoke Hotels were a pleasure to deal with throughout the sale process and we wish them the very best of success with this delightful property”.