Ex-Blackstone MD Erik Moresco Buys Cameron House for £100M

A former Blackstone managing director has just made his biggest splash in UK hospitality yet. Erik Moresco’s London based Victory Group has bought Cameron House, the iconic five star resort on the banks of Loch Lomond, in a deal believed to be worth around £100 million. The acquisition marks Victory’s first move into Scotland and opens a fresh chapter for one of Britain’s most storied luxury hotels.

Inside the £100 Million Cameron House Deal

Victory Group confirmed the acquisition this week, completing the purchase from affiliates of Colorado based KSL Capital Partners. The transaction has been described in industry reports as one of the largest Scottish hotel sales of the past decade.

The historic Loch Lomond estate, including roughly 400 acres of countryside, now sits under European ownership for the first time in years.

Financing for the deal came from funds managed by Apollo Global Management. Victory was advised by Bryan Cave Leighton Paisner, Alvarez & Marsal, Shepherd and Wedderburn, Turner & Townsend, JLL Debt & Structured Finance, and Howden Global Financial Sponsors.

The price tag puts Cameron House on a list with Scotland’s biggest hotel trades. Gleneagles sold for £140 million in 2015, and the W Hotel Edinburgh changed hands for around £100 million in 2025.

Who is Erik Moresco? The Man Behind Victory Group

Erik Moresco built his reputation on Wall Street before turning his focus to European real estate. He founded Victory Group in 2009 after serving as a managing director at Blackstone, one of the world’s biggest private equity firms.

Earlier in his career, Moresco worked at Morgan Stanley across New York, London and Paris. He focused on mergers, acquisitions and real estate investment deals.

Victory is headquartered in London and runs a hands on model. Senior leadership stays closely involved in projects, which is a clear contrast to the more arms length style of many large investment houses.

The Cameron House deal joins a growing portfolio of trophy assets:

• Fairmont Grand Hotel Geneva, the largest five star hotel in Switzerland
• The Zudo project in Amsterdam’s Zuidas, a 207,000 square metre mixed use redevelopment of the former ABN AMRO headquarters
• An ultra prime office redevelopment on London’s Jermyn Street, picked up in May 2025

Moresco described the UK as a “compelling investment market” and hinted at more deals to come across Western Europe.

“Cameron House combines a setting of breathtaking beauty, heritage and luxury, with legendary Scottish hospitality.”

What Cameron House Offers Guests

Set within Loch Lomond and The Trossachs National Park, Cameron House sprawls across about 400 acres at the gateway to the Highlands. It is roughly half an hour from Glasgow city centre.

The five star resort now houses 208 bedrooms, including 28 suites, alongside 115 self catering lodges, cottages and apartments offered through Cameron Lodges. The mix caters to weekend couples, family holidays and big corporate events.

The resort was recently named the fifth best resort in Europe by the Condé Nast Traveller UK Readers’ Choice Awards 2025. That ranking explains the deep pockets needed to seal this deal.

Here is a quick look at what the estate offers:

• Two golf courses, including The Carrick, an 18 hole championship course overlooking the loch
• Three swimming pools, a luxury spa with sauna, and a fitness centre
• Eight food and beverage venues, with one led by Michelin starred chef Graeme Cheevers
• A marina with around 250 berths, a private cinema, and a 700 square metre ballroom
• Meetings and events space able to host up to 500 guests

Victory has already pledged to enhance the resort through carefully curated wellness and experience led offerings, while respecting the estate’s character.

From Smollett Family Estate to Tragedy and Rebirth

Cameron House carries serious history. The Smollett family bought the estate in 1763 and held it for three centuries.

Famed 18th century novelist Tobias Smollett was entertained at the house in 1766. Over the years the family hosted Samuel Johnson, Empress Eugenie of France, Princess Margaret, Lord Mountbatten and Sir Winston Churchill.

The current baronial mansion was built in 1830 by architect William Spence and rebuilt after an earlier fire in 1865. The Smolletts even ran the grounds as a bear park in the 1970s before finally selling up in 1986.

A far more recent tragedy reshaped the property. On 18 December 2017, a fire killed guests Simon Midgley, 32, and Richard Dyson, 38, and forced the evacuation of more than 200 people.

Investigators found a night porter had placed ash and embers in a cupboard storing kindling and newspapers. Cameron House Resort Ltd later pleaded guilty to breaches of the Fire (Scotland) Act and was fined £500,000.

The hotel reopened in 2021 after a £29.7 million refurbishment. The rebuild delivered the new Lomond Wing with 68 luxury bedrooms and suites, modern fire suppression systems, and a loch facing terrace.

Cameron House Ownership Timeline

The sale closes a chapter shaped by tragedy and renewal, and opens another led by a financier with a taste for landmark European hotels. Cameron House has charmed novelists, royals, prime ministers and Hollywood stars across three centuries on the bonnie banks of Loch Lomond. Under Erik Moresco’s stewardship, its next era promises wellness driven luxury and continued five star service. What do you think of Victory Group’s big Scottish bet, and would you stay at the new look Cameron House? Share your views in the comments below.