RedCat grows accommodation offer with latest acquisition
The site will be operated by RedCat subsidiary The Coaching Inn Group, which it acquired last August.
The group will now trade 24 venues in market towns across the UK including Cambridgeshire, the Cotswolds, Leicestershire, the Peak District and Staffordshire.
This latest purchase, which was for an undisclosed sum, includes 37 bedrooms and alongside a leisure centre with indoor swimming pool, sauna, gym, fitness suite and sun shower.
Looking for new opportunities
The Coaching Inn Group chief executive Kevin Charity said: “We’re pleased to have added the Crown Hotel to our high quality and fast-growing estate.
“I’m delighted with how The Coaching Inn Group is accelerating its growth with RedCat’s support.
“We’re actively looking for new opportunities to expand our estate of historic coaching inns even further.”
RedCat was launched in February 2021 and made its first acquisition with 42 pubs from Stonegate in March last year, which included sites spread across the country and a combination of 14 managed pubs and 28 tenanted with half the managed sites in London.
Company strategy
On the latest deal, executive chairman Rooney Anand said: “Kevin Charity and The Coaching Inn Group are a class act and have a strong track record of identifying and running top-quality pub hotels.
“RedCat is delighted to be able to support the business and its continued expansion.”
The company strategy is to acquire quality inns, managed and tenanted pubs across the UK, aiming to provide the operational expertise and capital investment pubs need to get back on their feet and accelerate growth as the sector recovers from the pandemic.
It said its approach is highly flexible meaning it can acquire single assets up to larger-scale businesses and pub companies. The company has backed by funds managed by Oaktree Capital Management LP.
Colliers head of UK hotels agency Julian Troup brokered the highly confidential sale, acting on behalf of the owners.
