A historic hotel on the Isle of Bute has been saved from administration.
The Glenburn Hotel, which overlooks Rothesay, entered administration in August last year.
The hotel, which opened in 1892, had faced ‘unsustainable cash-flow problems’, having closed during the coronavirus pandemic.
It has now been sold to the UK’s largest independent hotel group, Bespoke Hotels, for an undisclosed sum.
The group already has a portfolio of 90 hotels in the UK, including 23 in Scotland.
Haydn Fentum, Bespoke Hotels chairman indicated the company’s hope of reopening the hotel “very soon”.
“We are delighted to have agreed a deal with FRP to acquire the Glenburn Hotel and look forward to integrating it into our expanding portfolio,” said Fentum.
“We hope to reopen the hotel very soon and have exciting plans to invest in the business and create new jobs and will be announcing our recruitment plans in due course”.
Originally built in 1843, the hotel opened as a classic grand seaside hotel in 1892 aimed at an affluent client base which was offered a lavish holiday experience.
It was extensively refurbished in 2016, featuring 134 guest rooms, ballroom, restaurants, bars, terrace, conference facilities and extensive terraced gardens.
Speaking about the sale, joint administrator Stuart Robb, partner with FRP Advisory, said: “We are very pleased to have sold The Glenburn Hotel, which is one of Scotland’s most prominent hotels with a long history stretching back to its opening as a grand seaside hotel in 1892.
“We wish Bespoke Hotels every success with The Glenburn Hotel and look forward to seeing the Hotel reopen.”