Staffing levels will be unaffected by the sale and there will be no changes to upcoming bookings.
The luxury Marcliffe Hotel and Spa in Aberdeen is to change hands after being owned by the same family for the past 45 years.
It is being sold to Sir Jim Milne’s Balmoral Group, an independent manufacturing and property company, for an undisclosed sum.
Marcliffe Hotel was acquired by Stewart Spence in 1979 and relocated to its current site in 1993, when the opening was attended by former Soviet leader Mikhail Gorbachev.
The 40-room hotel, which sits in eight acres of grounds, has a five-star rating from VisitScotland.
Stewart’s son Ross Spence took over as manging director after his father’s retirement four years ago.
Staffing levels will be unaffected by the sale and there will be no changes to current event, wedding and hotel bookings.
Effective Hospitality Management (EHM) has been appointed operate the hotel in collaboration with the Marcliffe team.
Balmoral Group will continue the ongoing refurbishment of the hotel and plans to inject “a substantial investment” into modernising its systems, processes and suites.
Milne said: “The Marcliffe is an Aberdeen institution, and is an establishment very close to my heart.
“I’ve known the Spence family for a long time, and it feels like a natural progression for Balmoral Group.”
Ross Spence added: "While it’s bittersweet to think we may soon be handing over the keys to the Marcliffe, we know that Balmoral are the perfect fit to continue its legacy.
“As long-time custodians of the Marcliffe brand, our family has cherished and nurtured it with love and dedication. So much of our lives have been spent here and the staff and regular customers have become family over the years – Sir Jim is part of that.
“We are confident that Balmoral will honour the Marcliffe’s heritage and care for it with the same passion and commitment that has been at the heart of our family so that the hotel will thrive for decades more."
The sale is expected to complete in late June.