Festival Inns announced a multi-million pound deal to acquire three hotels in Scottish cities, as part of its drive to open 30 additional venues by 2006.
The group said it had purchased the Ellersly House hotel in Murrayfield, and the Learmouth, in Edinburgh's West End, in addition to a 98-room hotel in Aberdeen.
The transaction was completed off-market for a "seven-figure sum", said Kenny Waugh, managing director, who said Festival was specialising in acquiring "class A and B hotels, all freehold".
Festival currently operates the Three Sisters pub on Cowgate, one of the most profitable venues in Scotland, as well as Beluga and Biblo's bar on Edinburgh's Chambers Street. The group also plans to open another venue in Edinburgh Quay and to develop a 56-room four star hotel in Stockbridge.
