UK: Crerar Hotels is “reinforcing its commitment to Scotland” by investing £15 million to position its portfolio in the “top end of Scottish hospitality”.
The company revealed the investment so far has been self-financed by trading profits and profit from asset disposal.
Crerar said the move is being made to meet the “growing demand” from UK custom and to meet demand from the “significant growth in high value tourism from the emerging Asian markets”.
The group is in the final stages of phase one investments at a number of its hotels, including Oban Bay, Loch Fyne (Inveraray), Golf View (Nairn), Glencoe Inn (Glencoe) and Isle of Mull Hotel (Mull), with committed spend to date in the region of £10 million.
The remaining retained hotels in its portfolio will follow the same investment route and market positioning, with phase two investment of £5 million.