Scottish Highland Hotels has confirmed that it is looking at further raids south of the border following its successful acquisition of two English hotels last year.
The Glasgow-based group, which owns the Marine Highland Hotel at Troon, host to the 1997 British Open, said it was looking to add another one or two hotels to its chain this year. It owns six hotels in Scotland and two in England.
Deputy chairman Alasdair Cameron said: “We are looking to expand the group, probably in the four-star market. We are going to be selective about acquisitions and they have got to fit the right profile and add to the quality of the portfolio.They are more likely to be in England because there are more opportunities in England. We are not scared of crossing the border.”
His comments came as the group unveiled a sharp rise in annual profits, with pre-tax profits jumping by 62% from £2.1m to a record £3.4m in the year to October 31. Turnover rose from £16.6m to £17.6m.
In October, the group bought Redworth Hall Hotel near Darlington and Hellaby Hall Hotel near Rotherham from the Wiggins Group for £13.1m, increasing room capacity by 29%.
Scottish Highlands Hotels also owns the Carlton Highland Hotel in Edinburgh, the Stirling Highland, the Old Waverley in Edinburgh, Pitlochry Hydro and the Buchanan Arms, Glasgow.
Results showed that average occupancy was unchanged at 75.5%, but the average room rate rose from £49.83 to £52.89 and profit per room rose by nearly £1,000 to £10,462.
PA News 07/01/98
