The new owners of a five-star Perthshire hotel plan to develop the offering after a “landmark” acquisition.
Fonab Castle Hotel, set in an 11-acre rural estate overlooking Loch Faskally, has been bought by Blantyre Capital Limited and Fairtree Alternative Real Estate.
Blantyre is a London-based investment management firm with long-term committed capital in excess of £1.3 billion (€1.6bn).
Fairtree Alternative Real Estate is a UK-based hotel investment and management company.
It was set up by four individuals with extensive experience in the hospitality industry having invested into and managed 43 hotels across South Africa and the UK.
Fonab Castle is a Category B listed mansion house dating back to 1892.
It operated as a British Red Cross hospital during the First World War, caring for wounded soldiers.
Now a 42-bedroom five-star hotel, the Perthshire property was bought for an undisclosed sum, agent Savills said.
It is a landmark transaction for both Blantyre and Fairtree in relation to the expansion of their active UK hotel investment strategy.
‘Exciting to have new owners on board’
The hotel’s general manager Niall Thompson is looking forward to a new chapter.
He hopes the investment will allow Fonab Castle to position itself among the top hotels in Scotland.
Mr Thompson said: “It’s very exciting to have new owners on board who share the value of a bespoke and truly unique luxury offering.
“The entire team is excited at the opportunities that this new season will bring.
“To be able to have the financial and management support of the Blantyre and Fairtree partnership will enable us to further enhance and develop our guest offering.”
Investment executive at Blantyre, Johann Scheid, said: “We are delighted to have concluded this deal with our partner Fairtree which has an impressive track record in both hospitality asset management and operations.
“We are looking forward to scaling our portfolio with them across the UK.”
Plans to guide the hotel into a new chapter
Portfolio manager at Fairtree Joe Bester said the group is glad to be part of the deal.
He believes Mr Thompson has created a “fantastic hotel”. Mr Bester said he is looking forward to working with the team.
He added: “We look forward to building on the phenomenal standards and reputation of Fonab and guiding the hotel into this new chapter as we enhance and extend its luxury offering.
“We are excited to be partnering with Blantyre as we are convinced to have found the perfect partner backing us on this journey.”
Steven Fyfe is associate director in the hotels capital markets team at Savills.
He said the hotel offers a “truly remarkable, luxury Scottish experience”.
Mr Fyfe said: “We look forward to watching the purchasers’ business plan take shape.
“Pitlochry is a popular destination for tourists offering beautiful scenery and many attractions.
“The market for luxury and leisure-led hotel assets is continuing to attract strong demand.”
