Bespoke Hotels takes over at the Craiglynne Hotel

George Sell By George Sell
02 August 2019 | Updated 02 August 2019

UK: Bespoke Hotels, acting on behalf of investors, has acquired the 83-bedroom Craiglynne Hotel on Speyside.

It has taken over the property from Crerar Hotel Group off a guide price of £2 million in a deal brokered by Colliers International.

Crerar Hotels put three hotels in its portfolio up for sale in March, offering the complete group for £6.85 million for the freehold assets.

The 92-bedroom Ben Wyvis Hotel in Strathpeffer has since been sold to Strathmore Hotel Group while the 52-bedroom Eight Acres Hotel in Elgin is still on the market.

Haydn Fentum of Bespoke Hotels said: "We are delighted with the purchase of the Craiglynne Hotel, which underlines our commitment and confidence in 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.

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."

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