Starwood Expands UK Portfolio with Purchase of Two Scotland Hotels
- Jan 14, 2015
Glasgow, Scotland—Starwood Capital Group has recently announced the purchase of The Town House Collection, a leading independent hotel group in Scotland. The portfolio consists of Blythswood Square, a luxury five-star hotel in Glasgow, and The Bonham, a four-star boutique hotel in Edinburgh. The cost of the transaction has not been disclosed.
Founded by Peter Taylor in 1989, The Town House Collection currently employs 270 staff members and has revenue of roughly $19 million, according to a news release. The former Royal Scottish Automobile Club, Blythswood Square opened in 2009 following a $36 million redevelopment, and comprises 100 rooms, restaurant and bar, private event rooms and a spa. The Bonham, a boutique hotel in Edinburgh’s West End, features 49 guest rooms, a bar and plenty of event space.
The purchase of Blythswood Square and The Bonham brings Starwood’s U.K. portfolio to 53 hotels comprising 7,455 units. The company also owns the historic George and Roxburghe hotels in Edinburgh and the Grand Central Hotel in Glasgow.
“We have become intimately familiar with the vitality and potential of Glasgow and Edinburgh through our management of the George, Roxburghe and Grand Central, and believe that this acquisition perfectly complements our strategy of purchasing prime hotel assets in the region’s top-performing markets,” says Cody Bradshaw, senior vice president and Head of European Hotels at Starwood Capital Group.
Image courtesy of Starwood Capital Group