Andy Murray and his wife are facing financial challenges with their hotel business, as it has reported substantial losses for the second consecutive year.
The tennis star, aged 37, invested nearly £2 million in 2013 to acquire the 15-bedroom hotel located near his hometown in Perthshire.
The hotel has become a popular choice for various family events. Since retiring from tennis at the Paris Olympics last summer, Andy and Kim Murray have dedicated much of their time to renovating this high-end establishment.
Under their management, Cromlix has received several awards, including a Michelin key and was recognized as Scotland`s best hotel at the 2024 AA Hospitality Awards.
Cromlix, situated near Andy Murray`s hometown of Dunblane, reopened in March 2023 after Kim Murray oversaw a three-month refurbishment.
The couple has continued to invest in the hotel, with ambitious plans to introduce a new restaurant, construct a wellness cottage, and expand the number of bedrooms.
Cromlix LLP, the company managing the hotel, reported losses of £919,572 last year. For the year ending March 31, 2024, the business has declared a loss of £369,045.
These financial figures were disclosed in recently filed accounts with Companies House.
Cromlix`s last profitable year was in 2022, when it reported a profit of £416,442.
Currently, the company`s cash reserves are at £242,535, an increase from £142,943 from the previous year, but a decrease from £1.1 million held two years prior.
The hotel`s net liabilities have increased over the year from £1.4 million to £1.8 million.
In an effort to boost revenue, Cromlix has launched its own brand of gin, which will be served at the hotel bar.
Kim Murray commented, expressing her enjoyment of the gin development process and satisfaction with the final product. She also praised the bottle design and expressed eagerness to try the new signature cocktail on her next visit.
Representatives for Cromlix have been contacted for further comments.
