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The Inn Collection Group (ICG) has added to its pubs with rooms portfolio as it aims to more than double its portfolio to 21 hotels by 2022.
The Queens Hotel in Ambleside, in the heart of the Lake District, has been acquired by the group as it continues to roll out strategic growth plans of its ‘pubs with rooms’ model. This follows the recent acquisition of the Waterhead Hotel in Coniston.
The purchase comes at a time of significant growth for the firm, following its successful bid to gain £10m of funding for future acquisitions. North east property firm, Bradley Hall will be supporting the hospitality group in sourcing and acquiring further ventures.
The Inn Collection Group’s managing director Sean Donkin 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.
“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.”
The Queens Hotel is the group’s third acquisition within the past 12 months, following the purchase of its first Lake District landmark property, The Waterhead Hotel in September and the reopening of The Seaton Lane Inn in County Durham after a major redevelopment in April.
The operator also opened a £4m new build unit, The Amble Inn in Northumberland in January 2019. The Alchemy-backed Inn Collection Group will continue to seek out new development opportunities to grow its portfolio in the Lake District and Yorkshire as well as within its north east England heartland.
Newcastle-based law firm Ward Hadaway advised The Inn Collection Group on the transaction accompanied by Jones Lang Lasalle on pre-acquisition diligence.
