The sale of Braemar’s Fife Arms Hotel has been confirmed by buyer Highlands Hospitality, which will spend millions on the property.
The announcement of the acquisition was made today, after a sale was agreed to the company, owned by local residents Iwan and Manuela Wirth.
Highlands Hospitality Ltd plans to renovate and restore the historic Royal Deeside building.
The Fife Arms is currently owned by Hart Hotels
Local councillor Geva Blackett supported the take over.
She said: “This is very good news for the Braemar community – Mr & Mrs Wirth have a reputation for excellence and their investment in this remote community will, I am sure, be welcomed by residents and visitors alike.”
A spokesperson for Highlands Hospitality Ltd (HHL) said they hoped the acquisition would be an important moment in the history of the village.
HHL will spend several millions of pounds sensitively renovating and restoring the historic Braemar building, in order to make it once again a first class hotel and a social hub for the local community.
The new owners will be working with expert and award-winning consultants Inverlochy Castle Management International (ICMI), with a view to attracting national and international tourists tourists to Braemar area, to enjoy and share in the many local attractions and events.
The plans for the future of the Fife Arms Hotel will be revealed in due course.
HHL said they hoped to complete the acquisition of the hotel in January 2015.
The intention is that the Fife Arms will close for renovation and refurbishment and when it reopens it is anticipated that over 50 people will be employed.
It will offer facilities for travellers and visitors as well as the local community, with a welcoming bar, informal and formal dining rooms, and rooms at different price brackets to meet the needs of walkers, families and sporting guests.
HHL intends the new hotel to combine a unique blend of traditional good service, comfortable rooms, outstanding contemporary art and design and delicious local food, a combination of all things close to the hearts of new owners Mr and Mrs Wirth.