Independent coaching Inns operator, The Coaching Inn Group has further strengthened its expansion programme with the acquisition of The Golden Lion in St Ives, Cambridgeshire.
The deal, worth more than £2m, is part of the Group’s £20 million expansion plan, which has now seen them acquire five sites in the past 12 months.
The 18th Century, 25-bed Golden Lion offers a blend of historical architecture with modern practicalities in the heart of the picturesque riverside market town of St Ives, Cambridgeshire and is well known in the community for its freshly prepared, seasonal menu.
The Coaching Inn Group Founder and Managing Director, Kevin Charity, said: “Over the past 12 months we have expanded The Coaching Inn Group with the acquisition of five new inns and have plans to add another four to the estate this year.
“The Golden Lion is a great example of the kind of property we want; great market town locations and businesses that will draw in locals and visitors from further afield alike. Victoria and the team have obviously done a fantastic job over the past decade and we look forward to continuing to work with them to build on the business’s fantastic reputation.”
The latest acquisition follows the news that The Coaching Inn Group has reported a 29% increase in sales and 60% rise in profits as turnover tops £13 million. The Group is on track to reach its target of 15 sites before the end of the year.
The Coaching Inn Group has eleven well- known hotels across Yorkshire, Leicestershire, Lincolnshire, Northamptonshire, Gloucestershire, Cambridgeshire 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.