Edinburgh-based Crerar Hotels has agreed a deal with Matrix Asset Management to operate and manage six former Swallow Hotels sites. Separately, it agreed to manage another ex-Swallow property, the Fishers Hotel in Pitlochry, for LaSalle Asset Management.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
