Bespoke Hotels has strengthened its footprint in Scotland with the acquisition of the 83-bedroom, Craiglynne Hotel in Speyside.
The group, acting for investors, has taken over the property from Crerar Hotel Group off a guide of £2m 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 £6.85m 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 from Bespoke Hotels said the group was ‘delighted’ with the purchase of Craiglynne Hotel and underlines its ‘commitment and confidence in Scottish tourism’.
Paddy Crerar CBE, chief executive of Crerar Hotel Group, said the agreed deal was ‘simply too generous to ignore’.
The 83-bedroom hotel features a large bar and restaurant and is a 40-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 CBE, 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.”
Julian Troup, head of UK Hotels Agency at Colliers International, commented: “This is further evidence of the increasing demand for larger Scottish hotels and follows our sale last month of Ben Wyvis Hotel, Strathpeffer, again acting for Crerar Hotels.”