Michael Ibbotson, managing director of Provenance Inns has announced his resignation from the North Yorkshire-based hotel and gastropub operator.
Ibbotson, who co-founded the group in 2010, will remain with Provenance Inns in a consultancy role, with co-founder Chris Blundell now taking sole ownership.
Provenance Inns was founded in 2010 when Blundell, a former director of supermarket group Morrisons went into partnership with Ibbotson to build a portfolio of hospitality businesses across North Yorkshire.
The company currently has 275 employees and a turnover of c.£10m.
The seven businesses in the Provenance Inns portfolio are: The Black Bull Inn, Moulton; the Carpenters Arms, Felixkirk; the Crown & Cushion, Welburn; the Oak Tree, Helperby; the Punch Bowl, Marton cum Grafton; the West Park Hotel, Harrogate; and the most recent addition, the Cleveland Tontine, Staddlebridge, acquired in 2016.
Despite his decision, Ibbotson will continue to own and run the Durham Ox in Crayke, which he acquired in 1999, and which will now once again trade as a standalone business, independently of the Provenance Inns portfolio.
Blundell said: “Michael and I have always agreed on the direction of the Provenance Inns business and, with Michael having reached his decision to resign as a director, this is no exception. The forward momentum of Provenance Inns will continue, with no changes to current or future projects. Michael’s continued involvement as a consultant will be invaluable.”
Ibbotson said: “When Chris and I founded Provenance Inns, we set ourselves some ambitious targets, and we have acquired and opened seven businesses in just seven years, putting significant investment into each. Having spent 25 years in the hospitality sector, my passion for the industry is as strong as ever, and there are now other opportunities I want to pursue.”