Travers Smith LLP has advised long-standing client Adventurous Journeys Capital Partners (AJ Capital) on its acquisition of The Marine Hotel in Troon, Scotland from the previous owners, Cannock Group and Stellar Asset Management. The iconic hotel positioned along the Ayrshire Coast will be the third Scottish golf property acquired by AJ Capital.
With this acquisition, AJ Capital will launch Marine & Lawn, a collection of high-end golf resorts, opening in 2021. The collection will encompass three hotels along the historic Scottish golf coast including Rusacks St Andrews, Marine North Berwick and The Marine Hotel in Troon. Travers Smith also advised AJ Capital on their previous acquisitions.
AJ Capital is continuing the extensive renovations to the hotel which were started by the previous owners and AJ Capital expect such works to be completed in 2021.
The Travers Smith team was led by Corporate Partner William Howard and included Corporate Associate Stuart Allan. Specialist advice was provided by Tax Senior Counsel Jonathan Woodall and Tax Associate Rob Smith.