Property

Apex Hotels acquires first Glasgow property

Edinburgh-based Apex Hotels has acquired Marks Hotel in Glasgow’s Bath Street, marking the group’s first move into the city. 

Apex Hotels will close the property in early January before carrying out an extensive refurbishment of the hotel, with a total investment of £10.5m.

The 104-bedroom city centre hotel is expected to relaunch in June 2015 as the four star Apex City of Glasgow Hotel.

This announcement comes just after the company reported increases in revenue and profit to the year-end in April, with turnover for the Group up 11% on last year to £56 million.

Ian Springford, Apex Hotels chairman said: “We have been looking for the right opportunity to expand into Glasgow for some time. In terms of size and location, the Bath Street property is an ideal fit for Apex Hotels and will become a very welcomed addition to our growing portfolio when it opens this summer.”

In September, Apex Hotels announced the purchase of a new central site in Bath’s Conservation Area, to develop a new 177 bedroom full-service hotel with extensive conference facilities. Due to open in autumn 2016, the £35m development will be the hotel’s first hotel in England outside of London.

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