McMILLAN Hotels has announced it is selling its two properties in the Borders – Peebles Hydro (right) and the Park Hotel, Peebles.
The two properties will be sold to Crieff Hydro.
Having celebrated 50 years in business in 2012, family -owned McMillan Hotels has been planning the restructure for the past two years with the aim of concentrating senior management and resources on its core properties in South West Scotland.
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.”
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.”