Britannia Hotels, the chain that has been ranked as the worst in the UK for nine years in a row, has acquired a city centre Premier Inn.
The Cheshire-headquartered business has snapped up the 278-bedroom hotel in Glasgow off a guide price of £8.5m. The sale was overseen by Christie & Co.
The deal brings the company's portfolio to 64 hotels and its room count to almost 12,300.
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The news comes after BusinessLive reported that almost 1,000 jobs were cut by Britannia Hotels during its latest financial year as it lost nearly £10m and its turnover sell by more than £80m.
In February the chain was ranked as the worst hotel chain in the UK for a ninth consecutive year, according to an annual survey by consumer group Which?.
Alex Langsam, managing director at Britannia, said: "I am delighted with our latest acquisition which will be our fifth hotel in Scotland. Glasgow is a classic Britannia Hotels location where people come to work and play, and we will provide great value accommodation for these guests.
"This city-centre, high rise property joins the city, coast and country hotels we offer across our group which also includes Pontins Holiday Parks.
"We remain keen to grow our group further using the cash resources we have generated over the years which means we can move quickly to secure hotels on an all cash basis."
Jeremy Jones, heads of hotels brokerage at Christie & Co, added: "After a competitive bidding process we are delighted to complete this important sale to Britannia Hotels, which follows on the heels of our success acting in the sale of The Lorne Hotel, Glasgow. We are experiencing higher demand for such city-centre hotels."
Brian Sheldon, regional director of Scotland for Christie & Co, said: "This is a prime example of the buoyancy across the Glasgow and wider Scottish hotel market at present, with the demand for accommodation across Scotland on the rise.
"We are currently speaking with buyers across all price points with genuine aspirations to add to their portfolios and often surpassing client expectations with local, wider UK and international buyers as a result."
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