Hotels

Bespoke Hotels acquires the Craiglynne Hotel from Crerar

Bespoke Hotels has acquired the Craiglynne Hotel from Crerar Hotel Group off a guide price in the region of £2m for the freehold property and business.

The 83-bedroom hotel, which also features a large bar and restaurant, is situated at the heart of Speyside, only a forty-minute drive from Inverness.

Haydn Fentum of Bespoke Hotels said: ”We are delighted with the purchase of the Craiglynne Hotel, which underlines our commitment and confidence in the Scottish Tourism and the hotel market. We look forward to a long and happy association with the hotel, town and region.”

Paddy Crerar, chief executive of Crerar Hotel Group, added: “We are very pleased with this sale. The Craiglynne has been an excellent asset for us, however, the agreed deal was simply too generous for us to ignore. Indeed, it confirms that the appetite for quality Scottish assets continues to grow, which is a clear backing for the already rock-solid Scottish tourism sector.

“In addition to our thanks to Colliers International, we must also praise the solid and commercial focus of Shepherd and Wedderburn most ably led by Andrew Blain.”

Crerar added: “the sale of Craiglynne Hotel is another key milestone in our right-sizing strategy – the capital released by the sale will be fully reinvested in our core properties taking us even closer to achieving our aim of being Scotland’s highest quality family of hotels and Inns.”

Colliers International handled the sale and Crerar has asked them to further assist in disposing of further potential hotels within the portfolio.

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