A popular hotel has been taken over by another family business.
The three-star Leapark Hotel in Grangemouth has been acquired by SGE Hotels for an undisclosed sum.
It had been on the market since last April when owner Iain Henderson decided to retire after 25 years running the busy Bo’ness Road premises.
The 48-bedroom Leapark has two bars, a restaurant and function room with capacity for 300 people, which makes it a popular venue for weddings and events. It currently employs 79 staff.
SGE, owned by husband and wife team Jiwan Singh and Jasbir Kaur, has revealed it intends to refurbish and upgrade the hotel in the future.
The company already owns four hotels in the west of Scotland. The three-star Esplanade Hotel and Argyll Hotel in Dunoon, plus the Imperial in Fort William and Columba in Oban, provide almost 200 bedrooms.
Acquiring the Leapark is the company’s first foray into the central belt.
SGE managing director Gill Singh, who is the owners’ son, believes the Grangemouth hotel will be a lucrative addition to the company’s portfolio.
He said that he was confident the firms’s “in-depth knowledge” of the hotel market in Scotland, along with the active management and strategic focus, will enable them to revitalise the newest property in our portfolio and bring it back to its former glory.
Graeme Smith, director at Christie + Co who handled the sale, said: “The Leapark Hotel is a successful and well-established business that has built up an excellent name, not just in Grangemouth, but also in the surrounding areas, as one of the finest privately-owned hotels in Stirlingshire.
“Gill Singh intends to continue trading the hotel as it is, initially, but it will be refurbished during the first quarter of 2013. I’m sure that Leapark Hotel will make an excellent addition to what is an already well-established hotel portfolio, and the exciting plans that are already in place look set to see its future grow.”
SGE also has a sister travel company providing coach tours from the Midlands around the west coast of Scotland.