The iconic four-AA-star, 89-bedroom Marine hotel overlooking the Royal Troon golf course in Ayrshire, on the west coast of Scotland, has been sold off a guide price of £7m.
Located on the 18th hole of the course, which will next year host the Open Golf Championship, the hotel has been sold by the Hotel Collection to a joint venture between Cannock Investments and Hetherley Capital Partners. The new owners said that they recognise the hotel requires investment to refurbish the hotel "as sympathetically as possible" and "restore it to its former glory".
This is the fourth property to be sold by the Hotel Collection, which now falls under the banner of Amaris Hospitality, owned by Lone Star. Since it acquired the Hotel Collection in June 2014, Lone Star has sold Cheltenham Park, Basingstoke Country and the Palace hotel, Buxton.
Located overlooking the Firth of Clyde to the Isle of Arran and Ailsa Craig, the Marine was built in the early 20th century, since when it has witnessed eight Open Championships.
Julian Troup, head of UK hotels agency at Colliers International, said the hotel attracted "a huge amount of interest" from both UK and international buyers. "Its iconic position overlooking the Royal Troon golf course makes it truly unique and I've no doubt the new owners will have ambitious plans for the Marine," he explained.
Speaking on behalf of the new joint venture partnership, Charles Scudamore, principal of Hetherley Capital Partners, added "Looking at the history of the Marine hotel, we were immediately taken by its reputation as one of the leading hotels in Scotland and more specifically the importance of the hotel to Ayrshire and its residents. 2016 is obviously a big year for the hotel and for the town of Troon itself and we look forward to playing our part."
The remaining 13 properties within the Hotel Collection - including the Imperial hotel, Torquay; Lygon Arms, Broadway; and the Majestic hotel, Harrogate - will continue to be operated by Lone Star, but it is expected these will be sold in the long term.
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