According to the BBC, the two hotels are the Station Hotel in Aberdeen and the Royal British Hotel in Princes Street, Edinburgh.
The group has earmarked £6.5m to support the upgrades and fund the new acquisitions. Two other buildings are included in the project after a £31.5m refinancing deal with HSBC.
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As a result of the work, the company said more than 200 jobs would be created.
The plans are part of an agreement with the Intercontinental Hotels Group (IHG), which will see the hotels adopt IHG brands, but with Cairn retaining ownership and management of the properties.
The Station Hotel in Aberdeen and The Bellhouse in Buckinghamshire will become Crowne Plazas, while the Chasley Hotel in Wakefield will become a Holiday Inn Express. The Royal British in Edinburgh will be a Hotel Indigo.
Cairn owns five hotels in Scotland, with its latest acquisition just last month when it bought the Fife-based Queensferry Hotel.
(JP/MH)
