Andy Murray and his wife are facing financial challenges with their hotel business, as it has reported significant losses for the second consecutive year.
The former tennis star acquired the 15-bedroom hotel near his hometown in Perthshire in 2013 for approximately £2 million.
The Cromlix hotel has become a popular choice for family events. Andy and Kim Murray have been actively involved in upgrading the luxury hotel since his retirement from professional tennis.
Despite the financial losses, the hotel has received numerous accolades under their management, including recognition from Michelin and being named Scotland`s best hotel at the AA Hospitality Awards in 2024.
Cromlix, located near Andy Murray`s hometown of Dunblane, was reopened in March 2023 after undergoing a significant three-month renovation project led by Kim Murray.
The couple has continued to invest in the hotel, with plans to introduce a new restaurant, wellness cottage, and additional bedrooms to the property.
Cromlix LLP, the company managing the hotel, reported losses of £919,572 last year. For the year ending March 31, 2024, the business reported a loss of £369,045.
While cash reserves have increased slightly from last year to £242,535, they are still significantly lower than the £1.1 million held two years prior. The hotel`s net liabilities have also increased over the past year, reaching £1.8 million.
In an effort to boost revenue, Cromlix has launched its own brand of gin, which will be featured in the hotel bar.
Kim Murray mentioned her enjoyment of the gin development process, particularly the taste testing, and expressed satisfaction with the final product and its presentation.
Cromlix hotel representatives have been contacted for further comments on the financial situation.
