UK: Hospitality group Chestnut has acquired The Old Bridge Hotel in Huntingdon, Cambridgeshire, for an undisclosed sum.
The Old Bridge Hotel has been owned and operated by John and Julia Hoskins since 1994. The 18th century townhouse hotel offers 24 bedrooms, a restaurant and a wine shop.
The property was marketed by Knight Frank at a guide price of £8 million.
Mr Hoskins said: “I cannot imagine an organisation better suited to maintain the spirit and success of The Old Bridge than Chestnut. Meeting Philip and his team has reassured me that they are the right people to whom we should pass on this much-loved institution, which we have been privileged to run for so long. The future looks very bright for both our team and our guests!”
Philip Turner, managing director of Chestnut, added: “It’s a real honour to be buying The Old Bridge, a place with a strong reputation that has set standards for hospitality over the last five decades.
“Thanks to the hard work, love and attention John and Julia have put into The Old Bridge we don’t plan on changing a winning formula. The team and the ambience of the building already have a strong ‘Chestnut’ feel, so we know our values and approach are consistent. As always, over time we will bring in new investment, ideas and energy to grow the business in line with our Chestnut ambitions, in the meantime the obvious passion and expertise of The Old Bridge team will ensure a seamless transition.”
Ryan Lynn, partner at Knight Frank who handled the sale, said: “It has been an absolute pleasure working with both John and Philip throughout the process and couldn’t speak more highly of the professionalism of all parties involved. We are excited to see how the business grows over the coming years.”