Inn Collection Group acquires second site in lockdown
The Stables at Crossbutts in Whitby is the group’s second November transaction bringing its inn count to 17 and its third Yorkshire site.
The nine bedroom inn overlooks the Esk Valley and is two miles from Whitby beach and neighbouring fishing village Sandsend.
The undisclosed deal grows the company’s portfolio in Yorkshire where it already owns the King’s Head Inn at Newton-under-Roseberry and the Black Swan at Helmsley.
Last week, the business completed on the 88-bedroom site, the Lindum Hotel in Lytham St Annes, Lancashire.
Exciting opportunities
The group has five pubs with rooms throughout the Lake District with a further seven in the north east, alongside a 40-bedroom site currently under construction in Wearside on the seafront in Sunderland.
The addition of the Stables is the Alchemy-backed firm’s sixth purchase this year as it remains on track to roll out ‘buy and build’ strategic growth plans, supported with finance via OakNorth.
The new site will continue trading in its current operating format, helping to secure the jobs of employees.
The Inn Collection Group managing director Sean Donkin said: “Whitby has been in our sights for a number of years and we’ve been excited by the opportunities generated by this superb site and its operators for a considerable time.
“2020 was mapped as a year of strategic growth for the group and despite the continued hurdles of Covid-19, we are on track to expand the estate as we grow our presence across the north of England in quality locations with potential to deliver high-yielding, sustainable results.”
Company aims
The Inn Collection Group was formed in November 2013, to accept investment from a private equity partner.
Before this, there were three trading sites in Northumberland but investment resulted in immediate growth and expansion of the business into North Yorkshire, County Durham and a further Northumberland unit, bringing the estate to seven sites.
Based across the north of England, the group aims to deliver excellence in customer service, value for money and quality across the estate with a company ethos of providing customers with the perfect place to eat, drink, sleep and explore.
Its pubs aim to play an important role in neighbourhoods by supporting local charities, sourcing locally and engaging with community initiatives.
