The Newcastle-based Cairn Group has acquired the 114-bedroom Ramada Glasgow Airport for an undisclosed sum off a guide price of £5.5m.
It now intends to invest £8m on refurbishing the property over the next 12 months. The hotel will remain open during the improvements.
The Cairn Group, which currently owns and operates 24 hotels in the UK, regards the new acquisition as a strategic purchase which complements its five other properties in Scotland.
Tina O'Hara, Cairn's group sales director, said: "We have been looking to acquire in Glasgow for some time, and this opportunity fits perfectly into our ambitious expansion plans.
"The hotel will have synergy with our Newcastle International Airport hotel DoubleTree by Hilton."
Richard Adams, group HR director, added: "This acquisition has increased the number of employees to 2,100 across our portfolio, and the development of the hotel should increase head count at the property by some 20%, in line with our previous projects. We are proud to be safeguarding and creating jobs in Glasgow. "
In addition to a collection of independent hotels, the Cairn Group operates hotels under a variety of brands such as DoubleTree by Hilton, Crowne Plaza, Best Western, and Holiday Inn.
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