Signet Collection to acquire Barnsdale Lodge Hotel amid funding package
The hotel currently consists of 46 en-suite bedrooms, 17 luxury self-catering cottages known as ‘Rutland Retreat’
The Signet Collection is set to acquire Barnsdale Lodge Hotel in Oakham, Rutland, and refurbish and upgrade it to a four-star Signet-branded spa resort.
Founded in early 2020 by seasoned hotelier Hector Ross and his team, The Signet Collection aims to create “extraordinary boutique hotels in memorable locations”.
The Barnsdale Lodge Hotel has been in Thomas Noel’s family since 1760 and formed part of the adjoining Exton Park, seat of the Earls of Gainsborough. Formerly a farmhouse and hunting lodge, it was converted by Noel in 1983.
The hotel currently consists of 46 en-suite bedrooms, 17 luxury self-catering cottages known as ‘Rutland Retreat’, three private dining and events rooms which can accommodate up to 50 guests, a larger function space which can accommodate up to 120 guests, a hair salon called Glow, and a 130-cover restaurant.
Signet said its plan is to refurbish the rooms, convert the existing events space into a spa and a new events space with capacity for 150 guests, and develop new retail units.
The acquisition and refurbishment comes after the group securedca £3.8m loan from OakNorth Bank.
Hector Ross, founder of The Signet Collection, said: “Signet Hotels is all about taking assets in the UK countryside that have fallen out of love, favour or investment, and breathing new life into them.
“I’ve now worked with OakNorth Bank for a number of years for both our Mitre Hotel in Hampton Court and The Retreat at Elcot Park, so I know they listen, they believe in backing entrepreneurs, and will work collaboratively to make plans come together.”
He added: “There’s a real can-do attitude amongst the team, and an understanding that in construction and hospitality, things don’t always go to plan, so timeframes can sometimes be longer than expected. They also move faster than any other UK lender I’ve ever worked with – if you go to them on a Monday with an opportunity but caveat that you need the capital in two weeks’ time, they’ll get it done.”
