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Crerar Hotel has secured £40m of funding with HSBC UK to refinance nine hotels in Scotland and one in the Lake District, including Fonab Castle and Dunkeld House Hotel.
The group operates a portfolio of four- and five-star boutique hotels and spas in locations throughout Scotland, including the Isle of Mull, Balmoral, Loch Fyne, and Glencoe.
This refinancing will support the company’s long-term growth ambitions and will also be supplemented by additional, targeted investment from Blantyre funds for refurbishment and expansion.
Blantyre funds have been investing in the portfolio since 2021, when Fonab Castle was acquired. This was followed by further acquisitions including that of a Crerar Hotels branded portfolio in 2023.
Chris Liddiard, relationship director for Real Estate Finance at HSBC UK, said: “It has been a pleasure to work with Blantyre as they invest in upgrading the hotels, which are positioned in some of the most beautiful areas of Scotland. These upgrades are expected to draw in more visitors, and we are excited to be able to support the business through this significant period of growth.”
Johann Scheid, investment director at Blantyre, added: “This deal represents an exciting new chapter for Crerar Hotels. We thank HSBC UK for their support in enhancing the long-term growth prospects of the Company, and look forward to continuing to work together.”
