Mon, 08 Aug 2022 | BUSINESS SALE
RedCat Pub Company has continued its acquisition spree in the UK hotel sector with deals for two more hotels in the South West of England. The acquisitions of the Moorland Hotel in Dartmoor and the Swan Hotel in Somerset come shortly after the group completed the £8 million acquisition of Cornwall's famous Jamaica Inn.
The two pubs have been acquired for undisclosed sums through RedCat subsidiary the Coaching Inn Group (which joined the group in August 2021). The acquisitions represent a continuation of the Coaching Inn Group’s strategy of investing in historic inns and bring its total estate of UK pub hotels to 32.
Since launching in February 2021, the wider RedCat Pub Company group has acquired more than 100 pubs and pub hotels, amassing more than 1,200 rooms across the UK.
The Swan Hotel is a 50-room boutique hotel which is believed to be the UK’s oldest permanently-trading hostelry. The Somerset hotel has recently secured investment to fund expansion and restoration. The Moorland Hotel (pictured above), meanwhile, is a 36-bedroom hotel set in 11 acres of grounds that was renovated in 2017.
Commenting on the acquisitions and the recent Jamaica Inn deal, Coaching Inn Group CEO Kevin Charity said: "All three inns are incredibly high-quality additions to the Coaching Inn Group and we are continuing to work alongside RedCat to expand our portfolio in popular holiday locations in the UK focusing on areas of natural beauty. We look forward to preserving the history of each inn, which has served as an attraction for tourists and guests."
RedCat Pub Company Executive Chairman Rooney Anand added: "RedCat and the Coaching Inn Group are delighted to be increasing our footprint through these exceptional pub hotels.”
“Together, we have nearly doubled the portfolio since RedCat acquired the business last year and it continues to go from strength-to-strength. We are confident that our strategy to invest in high-quality pub hotels, offering the best possible service and good value is the right one for customers."
Read more about the recent surge in UK hotel M&A.
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