Blantyre Capital and Fairtree Hotel Investments have acquired Scottish hotel chain Crerar Hotel Group.
In 2021, Blantyre and Fairtree established a joint venture with the aim of creating a portfolio of high-end luxury hotels in the UK.
The acquisition of Crerar and its portfolio of seven 4 and 5 star hotels is the JV’s fourth hospitality purchase, having also acquired Fonab Castle and Dunkeld House Hotel in Perthshire, Scotland and the Daffodil Hotel and Spa in Cumbria, England.
Following the acquisition of Crerar Hotels, the Blantyre and Fairtree JV now owns and operates 10 hotels across the UK.
Paddy Crear and Nigel Dearnley will step down from their roles of chair and co-director respectively. However, Chris Wayne-Wills will remain as CEO.
Colliers acted as advisors for the vendors.
What they said
Chris Wayne-Wills, CEO said: “This is an extremely exciting time for Crerar Hotels, we are looking ahead to a record year of performance with our hotels now at the highest level of facility and service. The road ahead remains clear, new ownership accelerates us to the opportunities much earlier than we might have hoped previously,” said Wayne-Wills.
“We are very pleased to have concluded our fourth deal and first group deal with our partners Fairtree and are excited about the momentum in building our luxury leisure hospitality portfolio with them across the UK. The addition of these 7 high quality assets to our platform allows us to expand on our offering in providing unique and memorable experiences to our international customer base,” added Johann Scheid, investment executive at Blantyre."