The new Exchange Hotel co-owners, Lawson Douglas and Dave Allan, intend to give the historic hotel a new lease of life.
Mr Lawson said the changes they plan to make may not even be noticed by patrons.
“We plan to make only subtle tweaks to the bars and fix things up,” Mr Lawson said.
“The hotel is a bit run down, but we plan to make it more comfortable for our customers, which means a new air-conditioning system.
“The big change will be in the food, we are letting our chef’s imagination go wild, but we plan to keep the great value the Exchange is known for.”
Mr Allan said the town deserved owners as committed to the hotel, as they are.