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Bowland Inns and Hotels has announced its intention to continue its expansion in North West after receiving a £25m from Oak North Bank.
The money will be used to refinance the existing portfolio of properties and complete both the acquisition and refurbishment of one new property, Wennington Hall near Lancaster, and expand the bedroom stock of one existing property, Waddington Arms near Clitheroe.
Opening in late spring 2024, the site will join Mitton Hall near Whalley, Eaves Hall near Clitheroe, and Falcon Manor near Settle among others in the Dream Venues Collection.
Bowland Inns and Hotels consists of two sub-brands, James’ Places and Dream Venues Collection, which operates its wedding venues.
The company now operates 11 separate venues across the Ribble Valley, Lune Valley, Yorkshire Dales and the South Lakes.
James Warburton, owner of Bowland Inns and Hotels, said: “Since starting the business way back in 1996 I have always had an eye on growth, always looking out for the next opportunity, the next building to get hugely excited about.
“As the business has grown, ‘I’ became a ‘we’, and the appetite for growth has got stronger and stronger. Finding the right funding partner for each stage of our growth has been one of the biggest challenges we have had to face. Finding a funding partner that wants to go on the journey with you, that’s more than key, that’s vital.”
He added: “We have been talking to OakNorth for a number of years, we found them interesting, different, and genuinely unlike any of the other lenders we have previously spoken to. We found them to be flexible and fully transparent and their unique knowledge and experience of the region’s hotel and wedding venue market was a key factor in getting the transaction over the line so quickly.”
