Coaching Inn Group has acquired a hotel in Cambridgeshire, marking the first deal to be completed following a £22m refinance agreement.
The group, which is headed up by CEO Kevin Charity, has taken over The Bell Hotel in Stilton as the 16th property in the portfolio, as it edges closer to its target of 500 bedrooms within the estate.
The 22-bedroom hotel dates back to the 1500s and comprises a restaurant, conference facilities and large garden. The business is rated three-star and has a 2 AA Rosette restaurant.
Last week Coaching Inn Group secured a £22m refinance deal with NatWest, fuelling further growth plans for the collection.
All 22 bedrooms at The Bell Hotel will now be refurbished as part of an initial £250k investment, with the project due to start in January.
CEO Kevin Charity said: “The Bell is a fantastic addition to our business and is one of the best examples of a coaching inn in Britain. It is well known for its very high-quality food and beverage product and we look forward to working with the team over the next few months to further develop its bedroom and function business, which we see as key areas of opportunity.”