Edinburgh hotel firm slides into red amid hit from Covid and property disposals

Crerar sold the Craiglynne Hotel to Bespoke Hotels in August 2019
By Scott Wright
CRERAR Hotels has fallen into the red after losses linked to the sale of three properties combined with a “dramatic adverse impact” of business closure caused by the first coronavirus lockdown.
The Edinburgh-based hospitality group swung to a pre-tax loss of £1.9 million for the year ended March 28, 2020, from a £7.6m profit the year prior, accounts newly filed at Companies House show.
Crerar said the sale of the Ben Wyvis Hotel in Strathpeffer, the Craiglynne Hotel in Grantown-on-Spey, and the Eight Acres Hotel in Elgin, under a strategy to slim its portfolio while increasing the quality of its remaining hotels, resulted in a loss on disposal of £1.34m.

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