Crerar Hotels reports on an exceptional year of profit and investment

A smartly dressed man smiles against autumnal trees
Crerar Hotels Group CEO Chris Wayne-Wills

Turnover and profit continued to push upward at Crerar Hotels Group across its last full trading year, running to the end of March 2024.

Crerar reported a 9% increase in turnover in the year thanks to ‘a healthy and steady flow of guests’ across its portfolio of award-winning hotels and inns, which includes the Balmoral Arms, the Glencoe Inn, the Golf View Hotel & Spa, the Isle of Mull Hotel & Spa, the Loch Fyne Hotel & Spa, the Oban Bay Hotel, and Thainstone House.

A Scottish country hotel in the sunshine
Loch Fyne Hotel

From that turnover, gross profit increased by more than £1,025K, from £7.8million to £8.8 million, whilst the group took on the management of three new hotels in June 2023 – the five-star Fonab Castle in Pitlochry, Perthshire’s Dunkeld House Hotel and the Daffodil Hotel & Spa in Grasmere in the Lake District.

Crerar also recorded a 10% increase in room revenue, which supported the gross profit increase.

Reporting its 2023/24 results, the group stressed that financial success had come after ‘years of investment and improvement’, and described it as ‘an exceptional performance’ given the market conditions and challenges faced by the hospitality industry.

Continuing its commitment to be an employer of choice, the same period saw Crerar boosting staff numbers and increasing basic salaries and benefits across the group, as well as creating roles for Head of People, now occupied by Claire Johnston, and Director of Learning and Development, led by Laura Dunphy.

Two business ladies stand smiling with a window out to water behind them
Claire Johnston and Laura Dunphy

Crerar’s ongoing efforts to elevate the guest experience were recognised as it picked up the national title of AA Small Hotel Group of the Year.

CEO Chris Wayne-Wills – who was awarded CEO of the Year by the Scottish Professional Awards, as well as being the only Scottish hotelier to receive the Master Inn Holder award during this period – said: “This a strong year for the business reaching higher turnover levels.

“It is incredibly encouraging to be able to reflect on a positive year for Crerar Hotels and that’s largely down to our great teams, offering exceptional experiences, that is a winning formula that has delivered this sales and profit growth.

A group of hotel staff apprentices gathered on a hotel lawn
Crerar staff apprentices at the start of their careers

“We have demonstrated our ongoing dedication to building and strengthening our proposition, whilst ensuring our people are well looked after and valued,” said Wayne-Wills.

“Our executive leadership team, who have worked together for a number of years, have also been a key driver in our success and these results are testament to the calibre of that team.

A Scottish country hotel in the sunshine
Dunkeld House Hotel

“Crerar Hotels Group has a strong identity and service offering; our guests now know what to expect when walking through the doors to any one of our hotels,” he said.

“One of our biggest additions to the portfolio is the management of three new hotels which are a fantastic fit for our business. Our job during this period and moving forward is to really bring these new hotels in line with the high standards we place on our seven existing hotels.

A large well appointed hotel room
A suite in the Isle of Mull Hotel & Spa

“So far, this transition is going very well indeed, and we have plans to invest in these hotels in the year ahead to drive this ambition further.”

Despite the challenges of the current financial year, Wayne-Wills expressed confidence that Crerar Hotels was ‘in its strongest position to date’ to navigate these.

“We have continued to focus on our investment in our people and our hotels. Our future potential continues to thrive, and we remain steadfast in our commitment to our guests and their experience, our properties and our team.”