'Significant' turnover boost at Crerar Hotels

Crerar Hotels reported a “significant” rise in turnover due to strong summer trading and the return of international travel.

In its financial results for the year ended 25 March 2023, the Scottish hotel company saw gross profit rise to £16.4m from £12.6m in 2022, while turnover increased to just shy of £19m from £14.5m the previous year.

However, the group saw losses before tax widen from £495,000 to £2.2m.

During the period, Crerar Hotels completed an extensive development of the spas at Loch Fyne hotel in Inverary (pictured) and Golf View hotel in Nairn to tackle “traditionally lower demand in the winter along with the year round added appeal for wellness travel”.

The group’s Isle of Mull hotel and spa and the Glencoe Inn brought “particularly notable” results during the summer, while Oban Bay hotel consistently drew in crowds that were “beneficial to overall group performance”.

The jump in accommodation sales was reflected in occupancy rising by 16% from the previous year.

Meanwhile, Crerar hotels grew its staff to 291 from 247 in 2022 and raised overall wages and salaries to £8.6m, compared to £6.5m the previous year.

Crerar Hotels was sold to Blantyre Capital Limited and Fairtree Hotel Investments for an undisclosed sum in March 2023.