By Angela Green, Content Executive: Crerar Hotels reports increase in turnover, and reduced losses.
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Crerar Hotels has reported an £8.9m increase in turnover in a past year alongside significant investment in both people, and properties.
The Scottish hotel group invested close to £2million in the Isle of Mull Hotel and Spa and close to £500,000 in the Glencoe Inn which became the first property in the portfolio to achieve an AA five-star rating.
The hotel group boosted team members by more than 40 and increased salaries by £1.6million across the group.
While the company reported a pre-tax loss of £831,000, Crerar Hotel’s CEO described this as a “significant improvement” on last year’s loss of £2m and is confident the company is on an upward trajectory.
Chris Wayne-Wills, CEO of Crerar Hotels, said: “We are proud to reflect on a good year where we have demonstrated our commitment to strengthening our proposition by investing heavily in our high-quality portfolio.”
“Our unwavering commitment to investment in our portfolio and our talent has put us in the best possible position for continued success and recovery.”
The group’s investment strategy has continued into the current financial year, with extensive upgrades in spa facilities at Golf View Hotel & Spa and Loch Fyne Hotel & Spa, as well as a substantial renovation of the Balmoral Arms, formerly known as the Deeside Inn, which has also been awarded an AA 5 star Inn status.