The Glenburn Hotel on the Isle of Bute has been bought out of administration by Bespoke Hotels, the UK’s largest independent hotel group.
The hotel, a famous Rothesay landmark, opened in 1892, and was Scotland’s first ‘hydropathic’ hotel. but during the pandemic its closed due to ‘unsustainable cash-flow problems’ and was marketed by administrators Stuart Robb and Chad Griffin, partners with FRP Advisory, for offers over £1.1m.
Bespoke Hotels chairman, Haydn Fentum, has suggested that the hotel, which has 134 guest rooms, a ballroom, restaurants, bars, terrace, conference facilities and terraced gardens, will reopen shortly. He said, “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”.
Joint Administrator Stuart Robb, partner with FRP Advisory said, “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. 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 commented. “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.”
The sale, for an undisclosed sum, adds to Bespoke’s portfolio of 90 hotels in the UK, with 23 in Scotland including