Crerar Hotels' ten-hotel estate goes up for sale at £90m

Blantyre Capital has put the Crerar Hotels portfolio on the market for £90m, The Caterer reports. It bought the group alongside Fairtree Hotel Investments in 2023.

Savills is handling the sale of ten four- and five-star hotels, ranging from 42 to 100 rooms. They include Dunkeld House in Perthshire, Fonab Castle in Pitlochry, the Isle of Mull Hotel & Spa and the Daffodil Hotel & Spa in Grasmere.

Whole, part or piece by piece Buyers can bid for the full estate, sub-portfolios or individual hotels. Some assets have already been priced separately: the Balmoral Arms in Ballater went to market this summer at more than £3.25m, and the Glencoe Inn is seeking offers above £2.25m.

The owner has spent on parts of the estate during its tenure, including £150,000 on a health club at Thainstone House this year.

What it means for operators: we read this as a test of appetite for regional luxury hotels outside the big cities. A flexible lot structure tends to draw a wider field of bidders, but it can also leave the weaker assets unsold. Watch whether the estate goes as one deal or is broken up, and at what price per room.