The Inn Collection Group’s portfolio has reached 31 following the completion of two further Lake District venues.
The fast-growing Northumberland-based operator has purchased Ambleside sites the 36-room The Regent Hotel on the shores of Lake Windermere and the 19-room Ambleside Lake House (pictured) on Waterhead Bay, in an undisclosed deal.
Ranked as the leading pub company in the UK for individual acquisitions and with more sites and bedrooms than any other operator in the Lake District, the deal takes the group’s Cumbria estate to 10 and their total estate count to 31, with further acquisitions in the pipeline.
Sean Donkin, managing director, said, “It is a landmark achievement for the group to have passed the 30-site marker and I’m delighted that it has been with venues of the calibre as The Regent Hotel and Ambleside Lake House.
“It is a sign of The Inn Collection Group’s ongoing commitment and investment in the Lake District as we drive forward strategic expansion plans with our Eat, Drink, Sleep and Explore concept while making significant contributions into the communities around our sites with employment, inter trading and wider economic benefits.”
Both The Regent Hotel and Ambleside Lake House will continue trading ahead of undergoing refurbishments later in the year.
The deals follow the purchase of the 90-bedroom Hotel St George in Harrogate and Ullswater lakeside venue The Glenridding Hotel in the last seven days.
The group’s Cumbrian estate includes sites in some of the Lake District’s most sought after addresses including Coniston, Grasmere, Bowness-on-Windermere and Bassenthwaite and now employs over 250 people in the county.
Elsewhere, the Alchemy backed group, which is supported with banking from OakNorth, has inns in Northumberland, North Tyneside, County Durham, Wearside, Yorkshire and Lancashire.
Ward Hadaway corporate partner Imogen Holland provided legal advice on the acquisitions with Neil Hart at Bradley Hall advising on pre diligence.
Neil Hart, group managing director at Bradley Hall Chartered Surveyors and Estate Agents said: “We are proud to be continuing our work with The Inn Collection Group through the acquisition of the Regent and Lake House as the firm expands its Lake District portfolio.
“The organisation is a fantastic Northern business and its commitment to providing exceptional venues is unrivalled. The firm is also creating new jobs in the hospitality sector throughout the Lake District at an important time for recovery within the sector.”
Julian Troup, head of UK Hotels Agency at Colliers, acting on behalf of the vendor, said: “The Regent Hotel and Ambleside Lake House are very strong businesses that have been built up by the Hewitt family over the last four decades.
'They are both located in prime positions and with a good reputation which sees them receive frequently repeat visits from customers wanting to return to stunning properties and the Lake District.
“Already the hotel market is looking to follow similar suit to 2021 with brands like The Inn Collection Group expanding their portfolio by purchasing quality assets likes these and capitalising on the staycation boom which will continue this year and into 2023. Last year Colliers sold 76 hotels, four to The Inn Collection Group alone”