The hotel, which was the first Holiday Inn Express in Europe, was acquired by Strathclyde Hotel LLP, a joint venture between Stellar Asset Management and Hetherley Capital Partners.
The hotel is managed by 2HM, a subsidiary of Hetherley Capital Partners and was assisted by Allied Irish Bank (GB), which provided financial backing for the acquisition of the hotel in 2018 and its extensive refurbishment.
The hotel was completely refurbished, from bedrooms and bar areas to event spaces and back office areas.
Julian Tee, director of asset management at Hetherley Capital Partners, said: “The Holiday Inn Express in Strathclyde Park needed significant investment to make it market relevant and bring it up to date. The hotel’s strategic location on the M74 makes it easily accessible and attractive to families, business travellers and corporate customers, and represents a key part of our portfolio.”
Tina Crookston, relationship manager at Allied Irish Bank (GB), worked with Strathclyde Hotel LLP on providing finance for the refurbishment project. Crookston added: “Hetherley Capital Partners specialises in hotel investment, operations and asset management across the UK, which makes it a natural partner for Allied Irish Bank (GB).
“Our dedicated hospitality and leisure team works with hoteliers across Scotland and the UK, whether owners, franchisees or investors, to provide the financial backing this sector needs to continue its growth.
“This is a significant investment that underlines our confidence in the Scottish hospitality and leisure sector.”