Andy Murray and his wife are facing financial losses in their hotel business for the second consecutive year.
The tennis star, aged 37, invested nearly £2 million in 2013 to acquire the 15-room hotel located near his hometown in Perthshire.
The hotel has become a popular choice for family events, and Andy and Kim Murray have been actively renovating the luxury property since his retirement from professional tennis after the Paris Olympics.
Despite the financial losses, the hotel has received several accolades, including a Michelin key and being named Scotland`s best hotel at the AA Hospitality Awards in 2024.
Cromlix, situated near Andy Murray`s hometown of Dunblane, was reopened in March 2023 after Kim Murray oversaw a three-month refurbishment.
The couple has continued to invest in the business, with plans to introduce a new restaurant, wellness cottage, and additional bedrooms.
Cromlix LLP reported losses of £919,572 last year, and the business has now announced a loss of £369,045 for the year ending March 31, 2024.
These financial figures were disclosed in filings with Companies House.
The last profitable year for Cromlix was 2022, with a recorded profit of £416,442.
Currently, the company`s cash reserves are £242,535, an increase from £142,943 the previous year, but down from £1.1 million two years prior.
The hotel`s net liabilities have increased from £1.4 million to £1.8 million over the past year.
In an effort to boost revenue, Cromlix has launched its own gin, which will be served at the hotel bar.
Kim Murray commented on the gin, expressing her enjoyment of the tasting process and satisfaction with the final product. She praised the bottle design and mentioned looking forward to trying the new signature cocktail.
A Cromlix spokesperson stated that 2024 was an exceptional year following the hotel`s refurbishment. They highlighted high occupancy rates, a successful restaurant and events business, and numerous awards, including the MICHELIN key and AA Hotel of the Year Scotland 2024.
The spokesperson added that ongoing investment in 2024 aims to ensure future growth and resilience in the face of challenges in the hospitality industry.
Cromlix is described as a thriving Scottish business employing over 70 people, primarily from the Stirling area, with expansion plans including a new restaurant and kitchen, four luxury bedroom suites, and a wellness cabin on the hotel grounds.
