Starwood Capital Group has acquired the Town House Collection, one of Scotland’s independent hotel groups.
The transaction will see Glasgow’s only luxury 5-Star property, Blythswood Square, and a boutique hotel in Edinburgh, the Bonham, transfer ownership immediately.
Scottish hotelier Peter Taylor founded the Town House Collection in 1989, and the company employs 270 members of staff across the two properties. Managing director Hans Rissmann and finance director Russell Hynd will continue to work alongside the new owners.
The transaction adds to Starwood Capital Group’s UK hotel portfolio in Scotland, which includes the historic George and Roxburghe in Edinburgh, together with the Grand Central Hotel in Glasgow. With the acquisition of Blythswood Square and the Bonham, Starwood Capital Group’s UK portfolio includes 53 owned and leased hotels with 7,455 keys.
“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.
