UK: The Harris Family Trusts along with Kings Park Capital have acquired the 31-site Inn Collection Group in deal reportedly worth more than £300 million.
Kings Park Capital was a major shareholder in The Inn Collection Group between 2013 and 2018, before selling the business to Alchemy Partners.
Alchemy Partners has now sold the business to a new company backed by the Harris family in conjunction with Kings Park Capital.
The Harris family is a founding member of The Bourne Leisure Group, having sold its majority stake in the business in 2021.
Paul Harris said: “We are excited at the prospect of backing Sean and his team to continue their ambitious strategy and to support further growth of their high quality portfolio of well-located inns with great potential.
The Inn Collection Group will continue to trade as normal with its existing teams.
Managing director of The Inn Collection Group, Sean Donkin said: “This is a hugely exciting new chapter for our entire team. Our success really stems from loving what we do – which is operating outstanding sites where our customers can eat, drink, sleep and explore from in exceptional locations – with a cracking team of people at all levels.
“I am absolutely delighted that The Harris Family Trusts believe in our product and performance and are investing in our future at such a dynamic time.”
Alchemy partner Thomas Boszko said: “Our investment into The Inn Collection Group is a text book example of the kind of deal we target: backing an outstanding management team to aggregate and dramatically enhance multiple underinvested owner-operated sites. Sean and the team have built the gold standard in modern inn groups and I have no doubt the new owners will be as delighted with the performance and the team as we have been.”
Earlier this year, OakNorth Bank lent The Inn Collection Group £42 million to fund the refurbishment of 13 inns.
News of the change in ownership follows the recent acquisition of the Glenridding Hotel in the Lake District, the second site in Wales for the group, as well as the Hotel St George in Harrogate.