SINGAPORE-based MGM Muthu Hotels has made its first move into the Scottish market with the acquisition of five prominent hotels.
The largest deal sees Ian Cleaver’s shuttle service and hotel group Highland Heritage sold – which had been offered for a sum in excess of £4.5m.
The Highland Heritage sale includes four hotels and 16 Volvo coaches. The hotels are the Royal Hotel and the Ben Doran Hotel in Tyndrum, the Dalmally Hotel in Strathlochy and the Alexandra Hotel in Oban.
The deal, in which Colliers International acted for the seller, comes shortly after the commercial property firm sold the 63-bedroom Newton Hotel in Nairn to MGM Muthu Hotels.
The Highland Heritage sale did not include the 15th century Kilchurn Castle, which is owned by Mr Cleaver.
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