Two north-east hotels have been rescued from administration, securing all 125 jobs.
The 155-room Holiday Inn Express City Centre in Chapel Street, Aberdeen, and Holiday Inn Aberdeen West in Westhill, which has 86 rooms, are now part of a portfolio of hotels and bars owned by Newcastle-based Cairn Group.
Cairn’s move ends uncertainty about the future of hotels that were among businesses owned by Aberdeen-based entrepreneurial duo Ivor Finnie and Alan Wallace.
FRP Advisory was appointed as administrator for these sites and another in Edinburgh following the collapse of the European Development Company – controlled by Mr Finnie and Mr Wallace – in November.
The Holiday Inn Express in Edinburgh city centre was sold to Middlesex-based International Hotel Properties in a ÂŁ17.7million deal earlier this year.
Cairn already owns the Station Hotel in Aberdeen city centre, which is poised for a ÂŁ5million revamp, and the Best Western Summerhill Hotel and Suites Aberdeen, on Lang Stracht.
Richard Warren, the company’s finance director, said the area was attractive because it is “still a busy thoroughfare for the corporate audience”.
He added: “The convenient locations of the hotels make them popular with visiting trade as well as tourism. It’s fantastic we’ve been able to retain all of the staff.
“We know Aberdeen very well and have a strong existing relationship with IHG (InterContinental Hotels Group, the franshise holder).
“We are confident we can turn around the fortune of the hotels as the regional market recovers. We’re looking forward to doing more business here and investing in the economy.”
Cairn’s acquisition, for an undisclosed sum, was supported by Mincoffs Solicitors and HSBC Bank.