The buyers, including Juozas Aliukonis, Vytautas Šyvys, and Raimundas Šyvys and Edinburgh-based Prestige Hotel Management, intend to invest 400,000 pounds in upgrading the 78-bed hotel from a three star to a four star rating, it wrote.
The new owners plan to bring the upgraded hotel, which is close to Peebles, 40 kilometers from Edinburgh, under the Mercure hotel franchise.
National Westminster Bank backed the deal.
