RedCat Pub Company expansion continues
The site will be operated by RedCat subsidiary The Coaching Inn Group, which it acquired last August.
The group will now market 24 sites in market towns across the UK, including Cambridgeshire, the Cotswolds, Leicestershire, the Peak District and Staffordshire.
This latest purchase, the amount of which has not been disclosed, includes 37 rooms and adjoins a leisure center with indoor swimming pool, sauna, gym, fitness room and solar shower.
looking for new opportunities
Coaching Inn Group Managing Director Kevin Charity said, “We are delighted to have added The Crown Hotel to our high quality and fast growing estate.
“I am delighted with how The Coaching Inn Group is accelerating its growth with the support of RedCat.
“We are actively seeking new opportunities to further expand our estate of historic coaching inns.”
RedCat 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 tenants with half of the sites managed in London.
Commenting 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 in identifying and managing top quality pub hotels.
“RedCat is delighted to be able to support the company and its continued expansion.”
The company’s strategy is to acquire quality hostels, managed and tenant pubs across the UK, with the aim of providing the operational expertise and capital investment pubs need to get back on their feet and accelerate growth as the sector recovers from the pandemic.
He said his approach is very flexible, meaning he can acquire single assets up to larger scale businesses and pub companies. The company has backed by funds managed by Oaktree Capital Management LP.
Julian Troup, director of British hotel agency Colliers, negotiated the highly confidential sale, acting on behalf of the owners.