Fast growing pubs-with-rooms operator The Inn Collection Group has added a third Yorkshire site to its portfolio with the acquisition of a popular Whitby venue.
The Newcastle business only last week revealed it had snapped up a hotel in Lancashire – its fifth this year.
Now the firm has added The Stables at Crossbutts, a nine-bedroom inn based between the North York Moors and Whitby, making it the group’s second November transaction, and bringing its property count to 17.
Overlooking the Esk Valley and two miles from Whitby beach and the neighbouring fishing village of Sandsend, The Stables is a destination venue for local and visitor trade.
The undisclosed deal will grow the group’s brand in Yorkshire, where the company already owns freehold sites The King’s Head Inn at Newton-under-Roseberry and The Black Swan at Helmsley.
Last week, The Inn Collection Group made its Lancashire debut, with the completion on the 88-bedroom The Lindum Hotel in Lytham St Annes.
Elsewhere, its pubs-with-rooms model lists five sites throughout the Lake District with a further seven inns in the group’s North East heartland, while a 40-bedroom unit is currently under construction in Seaburn, Sunderland.
The addition of The Stables is the Alchemy-backed group’s sixth purchase of the year as it remains on track to roll out ‘buy and build’ strategic growth plans, supported with banking via OakNorth.
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.”
The Stables will continue trading in its current operating format securing the jobs of all employees there.
The Inn Collection Group were advised by Newcastle-based law firm Ward Hadaway on the transactions, with Silverstone on pre-acquisition diligence.
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