Hotel group Trivelles Hotels has added a tenth hotel to its estate after purchasing the Mansion House Hotel in Elgin for more than its £975,000 asking price.
The sale of the 22-bedroom former baronial mansion, believed to be more than 130 years old, comes after trading difficulties saw the hotel close before reopening offering bed and breakfast only in March this year.
The hotel had previously been a popular wedding venue and also has a restaurant, function suite and leisure centre including a gym and a swimming pool, as well as a gate lodge with a further three letting rooms.
Ben Mitchell of selling agent DM Hall's Edinburgh office said: "We identified a number of opportunities to improve the trading position of this business and consider that the new owner will enhance significantly its turnover and profitability. In the years ended 31 July 2016 and 2017, the net turnover was just over £1 million.
"From mid-March this year, the business has been operated on a restricted basis offering bed and breakfast only. Under the same ownership for around 15 years, it has been fully managed on the owners' behalf as they lived abroad.
"Over half of income was generated from accommodation, in addition to revenue from the restaurant and weddings/functions."
Kevin McGlone, a partner in the Edinburgh office of Brodies which acted on behalf of Trivelles Hotels and Resorts, said: "We understand that under its branding the hotel will be restored to its original glory."
Trivelles is a property development and investment firm, specialising in student accommodation apartments, hotels and offices.
Its branded hotels arm includes the Trivelles Normanhurst hotel in Manchester, Trivelles Abbey in Leicester, Trivelles Liverpool, and Trivelles Cross Lane in Manchester.