The hotel has been sold by Oaktree Capital Management to 7 Hospitality for an undisclosed sum. It is the second UK acquisition for the business, which is headed by Singaporean managing director Mohan Mulani.
The 120-bedroom hotel is located in the West End of the city and comprises 12 meeting and conference suites with space for up to 800 guests – it is the largest hotel event space in the city. The management company will also launch their leisure brand 7 Health & Fitness at the property later this year.
Richard Ellison, director, said: “We are delighted to win this contract and confident that despite a tough hotel market in Aberdeen, we can demonstrate our dynamic approach will deliver the owners desired return on investment. We look forward to repositioning the hotel through the various skill sets we offer.”
Mohan Mulani, managing director, said: “We are pleased to have acquired our second hotel in Scotland. We have appointed the team at 7 Hospitality Management to manage our assets in Scotland. It is one of the first steps taken to tactically reposition the hotel and add value to the asset.”