4/2/2019 | Hotel Mortgages

Experienced hoteliers purchase the Ramnee Hotel in Inverness

Experienced hospitality managers, Stuart Sherwood and Christopher Manumbali, have recently purchased the freehold of the Ramnee Hotel, an exquisite Edwardian villa, originally built by Richard Hamblin as a private residence in 1906, with funding successfully secured by specialist commercial finance broker, Christie Finance.

The four-star Scottish Tourist Board hotel is situated in the Royal Burgh of Forres, a Highland town with a population of just over 12,000 people. Located close to the Moray Firth, the area enjoys a ‘micro-climate’ with it often being described as the ‘Riviera of the North’. The hotel comprises of 18 en suite bedrooms, a bar, restaurant and function room and is set within expansive grounds.

The new owners of the Ramnee Hotel are no strangers to the hospitality sector, having previously owned the Morar Hotel in Mallaig, complete with 32 bedrooms and a three-star rating. Stuart and Christopher recently sold the business after three years in operation, successfully increasing turnover by a notable 33% during this time.   

Stuart and Christopher have identified Ramnee Hotel as a fantastic opportunity to grow their hospitality business, with both the hotel and surrounding grounds being kept in impeccable condition by the current owners. Stuart Sherwood shares his experience on securing funding to purchase Ramnee Hotel “Christie Finance was excellent, providing full support throughout the whole process both efficiently and professionally from start to finish.”

Stephen McConalogue, Finance Consultant at Christie Finance, worked with Stuart and Christopher on the purchase of Ramnee Hotel. He comments “My clients have an excellent knowledge of the sector and the required skills to own and operate a successful hotel business. The improvements they have made at the Morar Hotel are a testament to their capabilities as hospitality operators. I wish them the very best of luck in taking the business forward.”