The Inn Collection Group has announced it has completed the acquisitions of the 36-bed Regent Hotel in Ambleside and the 19-room Ambleside Lake House on Waterhead Bay, for undisclosed sums.
The acquisitions have taken the group’s total portfolio to 31 overall, and it has taken its Cumbria estate to 10, with further acquisitions reportedly in the pipeline.
Both The Regent Hotel and Ambleside Lake House will continue trading ahead of its 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.
Sean Donkin, managing director for The Inn Collection Group, 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.”
Neil Hart, group managing director at Bradley Hall Chartered Surveyors and Estate Agents, added: “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 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 frequent repeat visits.”
Ward Hadaway corporate partner Imogen Holland provided legal advice on the acquisitions, with Neil Hart at Bradley Hall advising on pre diligence.
Additionally, Keith Melling, Wendy Keely and Nicola Ciraolo of Napthens Solicitors and Rob Richardson and Jenny Pape of Azets advised the Regent Hotel shareholders.