Paddy Crerar bids farewell as family-owned hotel group is sold

Crerar Hotels, built by industry veteran Paddy Crerar, has been sold to a joint venture between Blantyre Capital and operating partner Fairtree Hotel Investments.

Crerar’s portfolio will play a key role in the new owners’ plans to build a significant portfolio of luxury hotels in the UK.

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The price hasn’t been announced but is almost certainly estimated to have been in the tens of millions of pounds. Crerar has seven, four and five star hotels.

Mr Crerar and his family together with the charitable Crerar Trust owned more than 98% of the group.

“It has been an absolute pleasure to see our ambitions flourish and be rewarded by guest demand and loyalty,” said Mr. Crerar.

The co-founder of what started as a “part-time gig” during lockdown said he was considering quitting his day job after overseas interest in his fledgling business surged.

According to Stuart Fraser, 95% of Hickory Smoked Golf stocks date from between 1910 and 1935 (Image: Gordon Terris/Newsquest)

Edinburgh-based Stuart Fraser of Hickory Smoked Golf, which buys and restores pre-1935 clubs, said the company is in talks with various tourist and event operators after the focus shifted after last year’s Open Championship in St Andrews have changed.

The owners of Crossbaskets Castle Hotel in Blantyre have announced what has been hailed as the largest single investment in Scottish basketball history.

Club owners Steve and Alison Timoney with Caledonia Gladiators (Image: Newsquest)

Steve Timoney, who founded Glasgow-based Smart Metering Systems, and his wife Alison have announced plans to invest £20m in a new arena for the Caledonia Gladiators.

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A pub and restaurant in the “first commercial location” is for sale.

The move comes as the agent said there will be improved access with trams now preparing to run this summer and the location will likely benefit from having the tram stop for The Shore outside. (Image: Cornerstone)

The former Constitution Bar and Restaurant in Leith in Edinburgh is being marketed on an ownership basis by agents Cornerstone.

The agent said, “We really expect a high level of interest in this given the lack of ownership stock in the market as well as the trading location.”

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