The Crieff Hydro family has managed both of the hotels since 2014, having taken over after a number of unsuccessful management companies, helping to boost business. The number of employees across both hotels has also grown.
With 112 bedrooms between the two hotels, Crieff Hydro plan to continue investing in both hotels, starting this autumn with bedroom improvements.
Chief executive, Stephen Leckie, said: “These two hotels complement the existing collection we own. Their family-feel, great locations, access to beautiful scenery and warm homely feeling just make them a perfect fit.
"We have proven so far that with local management and involving people who are passionate about Scotland in the business, they can be a great success. We look forward to seeing these businesses continue to grow”
Crieff Hydro worked with their banking partner Santander on financing this deal.
Crieff Hydro Family of Hotels now owns six hotels, two in Crieff; Crieff Hydro Hotel and Murraypark, two in Peebles; Peebles Hydro and The Park and now these two new additions.
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