It was announced this week that McMillan Hotels, based in Stranraer, were selling the Peebles Hydro and the Park Hotel on the outskirts of Peebles to rival hotel group Crieff Hydro, they also confirmed the sale of Kirroughtree House Hotel, Newton Stewart two years ago.
Having celebrated 50 years in business in 2012, the family owned hotel chain has reached a key milestone in restructuring and refocussing the business. The company has been planning the restructure for the past two years with the aim of concentrating senior management and resources on its core properties in the heartland of South West Scotland
To that end, the company has formally agreed terms for the sale of its two properties in the Scottish Borders, Peebles Hydro and the Park Hotel, to Crieff Hydro.
Douglas McMillan said, “The sale of the hotels in Peebles will allow a much larger and more highly resourced company to invest more in the Hydro and The Park than it has been possible for us to undertake through these past five years of recession. Throughout our discussions with Crieff Hydro, we have been determined that the two hotels will continue to progress and prosper, and we are convinced Crieff Hydro provides an excellent fit. We wish them every success and would like to convey our thanks and gratitude to the staff and to the thousands of guests who have shared enjoyable times with us at the two Peebles hotels over almost a decade.
“For more than fifty years, our hotels have attracted a wide variety of guests who recognise that McMillan Hotels present some of the best family owned hotels in the country. We pride ourselves on providing personal service and excellent value for money and our future plans will be underpinned by these core beliefs. The changes announced today will lead to a renewed focus and further investment in facilities at our exceptional hotels in the South West of Scotland.”
Stephen Leckie, Chief Executive of Crieff Hydro commented, “These new acquisitions, Peebles Hydro and the Park Hotel in Peebles offer the Company an opportunity to establish a presence in the Borders area, bringing the experience, expertise and ethos of Crieff Hydro to create a gateway hotel in this part of the country. McMillan Hotels and Crieff Hydro are working closely to ensure the smoothest handover possible for customers and staff. The change in ownership will have no effect on the team working in Peebles Hydro – nor will it affect any customers with existing bookings or gift vouchers.”
McMillan Hotels are represented in the deal by Lockharts Solicitors Ayr, William Duncan & Co, Accountants, Ayr and leading business advisor Scott Lindsay of SLL Consultants.
Mr McMillan also confirmed to The Galloway Gazette the hotel chain had ended their long association with Kirroughtree. He added: “Kirroughtree was sold in January 2012 to an Australian businessman and we have leased it back from them until January 2014 and are pleased that the new owners have retained long serving manager Jim Stirling and all his local staff. They will continue running the hotel in the same way.
“We are very proud of the consistent standards achieved at Kirroughtree over 22 years and would like to thank the hard working staff and loyal guests for their support.
“We wish the new owners, Jim and his team every success in the future.”
McMIllan Hotels run the North West Castle in Stranraer, the Cally Palace Hotel near Gatehouse, Fernhill Hotel in Portpatrick and Glenapp Castle near Ballantrae.
McMIllan Hotels are retaining the North West Castle in Stranraer, the Cally Palace Hotel near Gatehouse, Fernhill Hotel in Portpatrick Glenapp Castle near Ballantrae.