Independent coaching inns operator, The Coaching Inn Group has further strengthened its expansion programme with the acquisition of the Kings Head in Richmond.
The deal, achieved off an asking price of £2 million, is part of the Group’s £20 million expansion plan, which will see it acquire five more sites this year alone.
Previously owned by Ashdale Hotels, the 26-bed Kings Head first opened its doors in 1717 when it was built as a gentleman’s townhouse. Nearly 300 years on, the hotel offers a blend of Georgian architecture with modern practicalities in the heart of the bustling market town of Richmond, North Yorkshire.
Founder and Managing Director, Kevin Charity, said: “Over the past 12 months we have expanded The Coaching Inn Group with the acquisition of four new inns and have plans to add another five to the estate this year. The Kings Head is a great example of what we do and the locations we are looking to expand into. Based in the heart of North Yorkshire, the Kings Head is a key venue in the town’s offering relaxed and comfortable surroundings for visitors and local residents alike.
“Working with the existing management team, we plan to invest up to £1 million in the property over the next 12 months. We’ll be investing across accommodation, food and beverage, including the addition of our Eatery and Coffee House concept which continues to be very successful across the rest of our estate where it has been applied.”
The Coaching Inn Group has ten well- known hotels across Yorkshire, Leicestershire, Lincolnshire, Northamptonshire, Gloucestershire and Wales and has built a strong reputation in the industry for transforming high quality coaching inns and revitalising their offer across food, drink and accommodation.