Nine luxury hotels across Scotland have been put up for sale as the owners of the Crerar Hotels collection seek new investors.
The Scottish properties form part of a ten-hotel portfolio being marketed by property adviser Savills, alongside the Daffodil Hotel & Spa in the Lake District.
The portfolio includes some of Scotland’s best-known country house and resort hotels: Dunkeld House Hotel in Perthshire; Fonab Castle in Pitlochry; Oban Bay Hotel; Golf View Hotel & Spa in Nairn; Loch Fyne Hotel & Spa in Inveraray; Isle of Mull Hotel & Spa; Balmoral Arms in Ballater; the Glencoe Inn; and Thainstone House near Inverurie.
Together with the Daffodil, the collection has 589 bedrooms, with individual hotels ranging from 42 to 100 rooms.
Savills is offering the collection as a complete portfolio, in smaller groups or as individual properties, opening the possibility that the Crerar estate could ultimately be broken up between different owners.
London-based investment firm Blantyre Capital and operating partner Fairtree Hotel Investments took control of Crerar Hotel Group in March 2023.
That deal involved seven Scottish four and five-star hotels previously controlled by businessman Paddy Crerar. Blantyre and Fairtree already owned Fonab Castle, Dunkeld House and the Daffodil, bringing the combined collection to ten properties.
The original 2023 transaction was completed for an undisclosed price and was described by advisers Colliers as one of Scotland’s largest hotel group transactions for many years. The seven Crerar properties involved in that deal had 386 bedrooms and recorded net turnover of more than £14 million in 2021/22.
Blantyre has since invested across the collection, including refurbishment work at several hotels. Earlier this year a £150,000 investment was completed in the health club at Thainstone House.
The owners also secured a £40 million refinancing agreement with HSBC UK in 2025 covering the portfolio, with the funding intended to support refurbishment and further growth.
Savills said the Scottish hotels now account for around 14 per cent of luxury hotel rooms in its “Scotland North” regional market.
The agent is highlighting the strong performance of the Scottish hotel industry as it seeks buyers. Its research found revenue per available room in Scotland had increased by 60 per cent since 2019, reaching an average of £100 in the 12 months to April 2026.
Steven Fyfe, director of hotel capital markets at Savills, described the portfolio as a “rare opportunity” to acquire a substantial group of luxury country house hotels.
He said: “The portfolio combines high-quality assets, an established operating platform and a robust income stream with clear potential to drive further performance through targeted investment.
“Scotland’s luxury hotels continue to benefit from their appeal to high spending international visitors, particularly those from the US, Middle East and growing inbound markets from East Asia.”
Fyfe said Scotland’s scenery, historic properties, whisky industry and golf offering remained important draws for international visitors.
He added: “Against this backdrop, the Crerar hotels portfolio provides an incoming owner with a strong platform from which to capture further growth in Scotland’s luxury hospitality market.”