The deal will see the pub company, which operates 31 sites after securing two new venues in the Lake District on Friday 11 February, continue “business as usual” with its existing teams, as it continues to roll out strategic ‘buy and build’ growth plans to expand its pubs with rooms model across the north of England and north Wales.
According to The Times, the deal is worth more than £300m.
The Inn Collection Group managing director Sean Donkin said: “This is a hugely exciting new chapter for our entire team. Our success really stems from loving what we do – which is operating outstanding sites where our customers can eat, drink, sleep and explore from in exceptional locations – with a cracking team of people at all levels.
“I am absolutely delighted The Harris Family Trusts believe in our product and performance, and are investing in our future at such a dynamic time.
“We look forward to a long relationship with the Harris family and resuming our established association with Kings Park Capital, who were part of The Inn Collection Group’s formation in 2013.”
Far exceeded projections
Donkin continued: “It’s very much a case of ‘business as usual’ across our operations as we continue to invest in our people and estate to further develop The Inn Collection Group brand and concept while growing our portfolio with new sites.
“Our greatest thanks to the team at Alchemy for backing us over the past four years and enabling us to far exceed our projected growth plans.”
The Harris family have many years of experience successfully investing and growing leisure and hospitality businesses having been one of the founding families of The Bourne Leisure Group, which it held for more than 45 years before selling a majority stake in 2021.
Paul Harris said: “We are excited at the prospect of backing Sean and his team to continue their ambitious strategy and to support further growth of their high-quality portfolio of well-located inns with great potential.
Alchemy Partner Thomas Boszko said: “Our investment into The Inn Collection Group is a textbook example of the kind of deal we target: backing an outstanding management team to aggregate and dramatically enhance multiple underinvested owner-operated sites. Sean and the team have built the gold standard in modern inn groups and I have no doubt the new owners will be as delighted with the performance and the team as we have been.”
Two new Ambleside sites
Meanwhile, The Inn Collection Group passed the 30-site milestone late last week when it confirmed the acquisitions of two Ambleside sites: the 36-bedroom Regent Hotel on the shores of Lake Windermere and the 19-room Ambleside Lake House on Waterhead Bay, for an undisclosed sum.
The deal took the group’s Cumbria estate to 10 and its total estate count to 31, with further acquisitions in the pipeline.
Donkin said: “It is a landmark achievement for the group to have passed the 30-site marker and I’m delighted that it has been with venues of the calibre as the Regent Hotel and Ambleside Lake House.
Both hotels will continue trading ahead of undergoing refurbishments later in the year.
The deals follow the purchase of the 90-bedroom Hotel St George in Harrogate and Ullswater lakeside venue The Glenridding Hotel in the past week or so.