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The Coaching Inn Group has continued its expansion programme with the acquisition of the Kings Head hotel in Richmond, North Yorkshire.
The deal, which is believed to be off an asking price of £2m, is part of the group’s £20m expansion plan which will see it acquire five more sites this year.
Previously owned by Ashdale Hotels, the 26-bedroom Kings Head first opened its doors in 1717 when it was built as a gentleman’s townhouse. It now features a restaurant, dining terrace, meeting rooms, a bar and wedding facilities.
Kevin Charity, founder and managing director, said: “Over the past 12 months we have expanded The Coaching Inn Group with the acquisition of four new inns and have plans to add another five to the estate this year.
“The Kings Head is a great example of what we do and the locations we are looking to expand into. Based in the heart of North Yorkshire, the Kings Head is a key venue in the town offering relaxed and comfortable surroundings for visitors and local residents alike.”
The company said it will work with the existing management and plans to invest up to £1m in refurbishing the property over the next 12 months. New additions will include the brand’s Eatery and Coffee House concept.
The Coaching Inn Group, which announced a £5m double acquisition in October last year, currently has a portfolio of 10 hotels across Yorkshire, Leicestershire, Lincolnshire, Northamptonshire, Gloucestershire and Wales.
