Cameron House hotel sold for second time in a year

Cameron House has been sold in a deal believed to be worth £70m

QHotels, which bought Cameron House from De Vere in November last year, has agreed to sell the five-star venue to US private equity firm KSL Capital Partners in a deal understood to be worth about £70 million.

KSL, which also owns the Belfry hotel and golf resort in the West Midlands, sold the Malmaison boutique hotel chain – which began life in Scotland – as part of a £363m deal in June.

Cameron House has 132 bedrooms along with a championship golf course, a range of self-catering lodges and the Michelin-starred Restaurant Martin Wishart.

QHotels, which counts the Westerwood hotel and golf resort in Cumbernauld among its portfolio, has also announced plans to invest £50m across its remaining hotels over the next two years.

The firm, jointly owned by US investors Sankaty Advisors and Canyon Capital Advisors, said the investment was a “clear demonstration” of its confidence in the business, which expects to generate more than £200m of turnover for the first time this year.

Managing director Michael Purtill said: “We constantly look at ways to deliver better products and services and how we can continue to improve, based on our customers’ feedback. The £50m will be invested in areas specifically highlighted, such as wi-fi, to ensure that we continue to lead and innovate in the sector.

“We were the first large hotel group to offer wi-fi free for guests, but now with the demands of streaming and multiple devices we need to make sure that we not only keep pace with customer expectations but exceed them.”

Cameron House was the venue for the IoD Scotland conference earlier this month, when former Scottish health minister Susan Deacon became the first female chair of the organisation.