Inn Collection secures funding to support future growth
The provider has also surpassed its 2022 portfolio target and now has 26 inns across Northumberland, County Durham, the Lake District, Tyne and Wear, and Wales.
The Inn Collection has announced its plans for future growth after receiving a £42m loan from OakNorth bank.
Established in 2006, Inn Collection Group develops contemporary inns, providing accommodation, food and drink to leisure and business customers. It is backed by Alchemy Partners, the British private equity firm which has invested over £4b across more than 185 transactions since its inception in 1997.
The group revealed it plans to refurbish over a dozen of its existing sites and support the redevelopment of the current property portfolio.
Over the last 18 months, the group has strengthened its management team, hiring both a CFO and operations director, as well creating an in-house development team.
According to the Inn Collection, it has also surpassed its 2022 portfolio target and now has 26 inns across Northumberland, County Durham, the Lake District, Tyne and Wear, and Wales.
Sean Donkin, managing director of Inn Collection Group, said: “Covid has of course been hugely challenging for the sector, but as with any good business, we’ve tried to find opportunity in times of turmoil.
“That is why we are keen to continue developing our portfolio with sites that fit with our proposition of providing high-quality accommodation, service, food and beverages.”
