A growing pub and hotel group in the North East has announced its fifth acquisition this year - and its 11th during the pandemic.
The Alnwick-based Inn Collection Group has bought the Ripon Spa Hotel in North Yorkshire as it continues its strategy of buying properties during a difficult period for the leisure and hospitality sector.
The 40-bedroom site is set in six acres of gardens and features public rooms including a ballroom, terrace bar and self-contained Turf Tavern Bar Bistro.
The site will remain closed while a major refurbishment is carried out to bring the venue in line with The Inn Collection Group’s Eat, Drink, Sleep and Explore brand. It will be the group’s fourth site in Yorkshire and takes its estate total to 24.
Inn Collection managing director Sean Donkin said: “The Ripon Spa is a fantastic addition to our portfolio of properties. It has huge potential which we have an exciting vision to realise. We’re looking forward to starting that journey while expanding the group’s footprint in Yorkshire.
“The Inn Collection Group excels at revitalising classic, landmark sites like The Ripon Spa and realising their full potential with significant capital spend, detailed planning and care to retain the unique, historic character of landmark sites such as this.”
Julian Troup, head of UK Hotels Agency at Colliers, said: “This sale marks a new chapter in the history of The Ripon Spa Hotel, and I look forward to seeing this renowned Yorkshire hotel benefitting from the high-quality of refurbishment for which The Inn Collection Group is synonymous.
“There has been a noticeable change of mood in recent months among potential hotel purchasers. Activity has significantly increased, and The Ripon Spa Hotel attracted a good deal of interest from a diverse range of buyers before being secured by The Inn Collection Group.”
The undisclosed deal follows acquisitions in May of hotels in Ambleside and Lytham, while it also bought the well-known Park Hotel in Tynemouth earlier this year.
The Inn Collection, which has backing from private equity group Alchemy and bank OakNorth, is expanding through acquisitions and organic growth.
It recently opened a new-build hotel at Seaburn, Sunderland, and is also developing a site in Redcar. It has hotels in the North East, North West and Yorkshire.
Due diligence on the acquisition of The Ripon Spa was carried out by Ward Hadaway corporate partner Imogen Holland.
