A growing leisure and hospitality business in the North East has expanded its portfolio with the purchase of a fifth site in the Lake District.
The Inn Collection Group, which is based in Alnwick, has bought the 20-bedroom Churchill Inn at Ambleside, its second acquisition in the Lake District this year and its 15th property overall.
The multi-million pound deal is the latest acquisition to follow a 2018 deal the Inn Collection Group struck with financiers OakNorth, which provided £10m for the company to drive its ‘buy and build’ strategy to expand across the North of England.
It also comes as the company is embarking on a recruitment drive for other recent acquisitions in Cumbria, with more than 200 jobs on offer.
The Inn Collection Group’s managing director Sean Donkin said: “We are delighted to have added a second Ambleside site to our estate.
“We’re looking forward to unlocking the venue’s full potential and investing in what will be a valuable new addition for locals and visitors to the Lake District here in Ambleside as we continue to grow our customer base and group foothold across the north of England.”
The Churchill Inn will be closed temporarily before trading independently until the start of a major redevelopment set to take place later this year to bring it into the group’s ‘eat, drink, sleep and explore’ brand.
The group’s second Ambleside venue, The Ambleside Inn, opened in December following a major refurbishment, while The Coniston Inn at Coniston opened on August 1, following an 18-month redevelopment.
As well as its recent acquisitions in the Lake District, the Inn Collection has properties in its North East heartland at Alnwick, Seahouses, Holy Island, Blyth, Durham, Seaton and Newton-Under-Roseberry, while it will also operate a new hotel being built on the seafront in Seaburn, Sunderland.
Last week, the company launched a recruitment drive for around 200 posts, saying that it wanted to challenge the negative image of working in the hospitality industry. Its INNtelligent campaign is highlighting flexible working hours and employee benefits available to staff, including discounts for friends and family.
The Inn Collection Group was advised on the latest deal by Newcastle-based law firm Ward Hadaway on the transactions, with Bradley Hall on pre-acquisition diligence.
