The owner of a Lake District luxury hotel has reported a strong trading year.
Crerar Hotels Group, which runs the Daffodil Hotel & Spa in Grasmere plus six other venues in Scotland, said turnover and gross profit continued to push upward.
The group which to end of March 2024 reported a £1,930K increase in EBITDA and 9% increase in turnover in the year. Crerar Hotels also welcomed a 10% increase in room revenue which supported the gross profit increase.
Gross profit increased from £7.8m to £8.8m in the same period.
Crerar Hotels Group bought the Daffodil Hotel & Spa in June 2023, along with Fonab Castle in Pitlochry, and Perthshire’s Dunkeld House Hotel.
Chris Wayne-Wills, CEO of Crerar Hotels, 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.
“We have demonstrated our ongoing dedication to building and strengthening our proposition, whilst ensuring our people are well looked after and valued. 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.
“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. 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. 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.”
Mr Wayne-Wills added that the current financial year would continue to bring its own new set of challenges but said he remained confident that Crerar Hotels was in its strongest position to date to navigate these.
He said: “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.”
