US syndicate buys Culloden house hotel

North American Country Inns - a syndicate of US investors, based in San Francisco - is scouring the UK for further acquisitions following its purchase of Culloden House Hotel near Inverness for about £3m.

Ed Cunningham, founder and president of the syndicate, which also owns three US hotels, said it had been looking for a property in the UK for about three years.

"We felt the UK market was running about 18 months behind the USA so when our market picked up rather rapidly, we felt it was time to look seriously," he said.

The aim now was to build up a portfolio of three UK hotels, he added. All would be similar in style - "historic and unique properties". Culloden House gained notoriety when Bonnie Prince Charlie used it as his headquarters in the days leading up to the Battle of Culloden in 1746.

The 23-bedroom, four-star hotel was acquired from Ian and Marjory McKenzie, who had owned it for a decade, through agent Robert Barry & Co.