Crieff Hydro buys two McMillan Hotels & signs Freedom Hotels management deal

Crieff Hydro, one of Scotland's best known hotel resorts, has revealed plans to acquire two well-known hotels in the Scottish Borders from McMillan Hotels.

The properties - the 132-bedroom Peebles Hydro and the 24-bedroom Park Hotel in Peebles - will add £10m of revenue of its business and comes as the £100m expansion of Crieff Hydro enters a crucial stage. The deal is expected to be completed later this month.

Further to this the company, which is Scotland's oldest trading company, has also signed a deal to manage a further four venues on the West Coast and in Yorkshire as part of a joint venture with Freedom Hotels.

This deal will add more than 400 bedrooms to the company's portfolio and includes The Yorkshire Hotel in Harrogate, The Isles of Glencoe Hotel & Leisure Centre, The Ballachulish Hotel and the Oban Caledonian.

Crieff Hydro chief executive, Stephen Leckie said all six hotels had a different focus to Crieff Hydro, but offered 'a significant opportunity' to develop travel, tourism and leisure opportunities in important tourist areas.

Last year, Crieff Hydro in Gilmerton, Tayside, lodged extensive £100 million plans to build 200 lodges and a 100-bed care home in a bid to secure the hotel as a year-round attraction. The proposals also include a swimming pool, gym and up to 1,000 square metres of retail, farm shop and café on land adjacent to Gilmerton.

Crieff Hydro chief executive, Stephen Leckie said all six hotels had a different focus to Crieff Hydro, but offered 'a significant opportunity' to develop travel, tourism and leisure opportunities in important tourist areas.