Ardoe House Hotel, near Aberdeen, has changed hands for the third time in 11 years, it was announced yesterday.
Commercial property and investment management giant JLL said it had sold the four-star, 120-bedroom hotel, located at Blairs, to Malaysian investors for an undisclosed sum.
The new owners, Wai Ceong Choy and Wai Hin Choy, trading as MSB Admiral, also own a hotel in Brandon, Warwickshire.
JJL’s sold Ardoe on behalf of Amaris Hospitality, comprising properties and brands acquired by private-equity investor Lone Star.
Kerr Young, director in JLL’s hotels and hospitality group, said the off-market deal highlighted investors’ confidence in hotels in and around Aberdeen following a period of “short-term trading volatility” caused by the oil and gas industry downturn.
Ardoe last changed hands in late 2014, when Lone Star acquired it and other Accor-branded properties from property investor Moorfield Real Estate Fund.
Moorfield had owned Ardoe since early 2007, when it was one of 24 UK hotels sold by Macdonald Hotels and Resorts in a £400million-plus deal.
