The purchase, made in partnership with its investors, will see the historic hotel rebranded as The Caledonian Thistle Hotel, reflecting its Scottish heritage and the company’s expansion strategy in key Scottish tourist destinations. This marks the latest addition to The Caledonian Hotel Collection.

Graham Rogers, managing director at Caledonian Leisure, said: “After the success of The Caledonian Hotel Collection in Torquay, Blackpool, Scarborough and Arrochar, we’re delighted to welcome another hotel to our family.

“With sector-leading customer review scores and rising demand across our brands, this investment is a key step in strengthening our year-round offering in Scotland.”

A significant investment programme is now underway to enhance both the interior and exterior of the property. The hotel will be ready to welcome guests from the end of July, operating 12 months of the year to meet demand from both coach-inclusive and self-drive customers. The refurbishment will deliver upgraded bedrooms, refreshed communal areas and improvements to the entertainment facilities.

David McDonald, finance director at Caledonian Leisure, said: “Callander is a wonderful base for customers looking to explore with so many outstanding and beautiful areas within easy reach of this delightful Scottish town.

“We’re proud to invest in the local area, and by welcoming customers all year round we’re pleased that we’ll be making a contribution to the area’s economy too. The locally renowned Macnab’s Bar will remain open for everyone, and in a nod to the traditions of the hotel, we’ll be renaming the restaurant The Dreadnought Restaurant.

Mr McDonald added: “Right now, we’re actively recruiting local people to deliver exceptional hospitality as we prepare to reopen the hotel this summer after this extensive refurbishment project.”

This investment follows a recent £2.4m investment in 10 new modern, touring coaches to join their fleet. Their coaches, fondly referred to as its “Pride of Lions”, now extends to over 85 liveried vehicles manned by the most experienced team of drivers.