Swindon-based brewery Arkells has snapped up The Priory Inn in the Cotswolds town of Tetbury for almost £2m.
The 14-bedroom property and 82-cover restaurant has been sold by Dave and Tanya Kelly, who have owned the hotel since February 2004, off a guide price of £1.95m.
The Priory Inn is a ‘thriving’ business, with annual turnover increasing from £400k in excess of £1.3m during the Kellys’ ownership.
The couple have now decided to take on a new challenge outside of the hotel industry.
Arkells Brewery, chairman James Arkell comments: “We are delighted to be in Tetbury, a historic market town. The Priory Inn fits into our expanding portfolio of town bars with rooms. The owners and Christie & Co have been more than helpful and we look forward to getting to know our customers.”
Matthew Smith, director at Christie & Co’s Bristol office comments; “We are delighted to announce the sale of The Priory Inn. Having received numerous offers for this opportunity, Arkells Brewery was successful in purchasing the business within a few weeks of agreeing on the sale. The sale presents an exciting time for The Priory Inn and all its customers as this local brewer of 175 years with pubs, inns and hotel move the business onto the next successful phase.”