Expanding North East leisure operator acquires second Lakes venue
Northumberland-based The Inn Collection Group is expanding its portfolio with an acquisition in the Lake District.
The leisure operator has acquired The Queens Hotel in Ambleside, its second site in Cumbria, as it continues to roll out its ‘pubs with rooms’ growth model.
Inn Collection, which bought the Waterhead Hotel in Coniston last September, is aiming to double its portfolio to 21 hotels by 2022.
The company secured £10m funding from challenger bank OakNorth last month to support its acquisition plans.
Sean Donkin, managing director of The Inn Collection Group, said: “We are excited to be bringing The Queens Hotel and its team into The Inn Collection Group family.
“Ambleside is a stunning location with an all-year-round appeal for walkers, outdoors enthusiasts and weekenders.”
He added: “We take a great deal of pride in repurposing and enhancing historic buildings and are looking forward to investing in The Queens Hotel to meld with our award-winning eat, drink, sleep and explore philosophy.”
North East property consultancy Bradley Hall will support Inn Collection as it sources as acquires further ventures.
Bradley Hall group MD Neil Hart commented: “We were delighted to act on behalf of The Inn Collection Group during this exciting and important time for the firm.
“We’ve developed a fantastic relationship with Sean and the team and are extremely proud to have played a small role in this innovative company’s impressive and significant recent growth.”
He continued: “We look forward to working on future projects with the region’s leading and contemporary pub company as it continues to change the face of the North East’s hospitality sector.”
Newcastle law firm Ward Hadaway advised The Inn Collection Group on the deal. JLL provided pre-acquisition diligence services.
The Queens Hotel is Inn Collection Group’s third acquisition in the last 12 months.
Earlier this year, the firm opened The Amble Inn, a £4m 150-seater new build venue in Amble, Northumberland.
Inn Collection Group is backed by private equity firm Alchemy Partners.