The Waterhead Hotel in Ambleside has been acquired by the Inn Collection Group after almost 50 years owned by English Lakes Hotels Resorts & Venues.
The 38-bedroom venue was sold for an undisclosed sum through Colliers International and takes the Inn Collection Group’s portfolio to 22 and its eighth in the Lake District.
The Waterhead Hotel had been owned by English Lakes Hotels Resorts and Venues since 1965 and the acquisition leaves the group with four properties, including Low Wood Bay.
The classic Lakeland venue will reopen as The Waterhead Inn today and continue trading before a planned refurbishment in 2022.
The Inn Collection Group’s managing director Sean Donkin said: “It was our strategic vision as a group to more than double our freehold estate to 22 sites in 2021 and despite the intense challenges of the global pandemic, we have had our finger on the pulse to accelerate growth and realise our ‘buy and build’ expansion strategy. We are continuing to expand at pace and have organised ourselves internally to deal with greater than anticipated expansion.”
He added: “The Waterhead has long been in our sights and we are excited to bring this remarkable venue and its team into The Inn Collection Group family.
Julian Troup, head of Hotel Agency at Colliers, said: “The sale of The Waterhead Hotel to The Inn Collection Group is one of several Lakeland hotel and hospitality business sales Colliers has agreed in recent months and vividly illustrates the intense demand for prime hotel and inn opportunities in this hugely popular staycation region.”
The Waterhead Hotel acquisition, which was completed in an undisclosed deal, follows the group’s purchase of the neighbouring The Wateredge Inn at Waterhead Bay in March.
Elsewhere in the Lakes, the Alchemy-backed group, which is supported with banking from OakNorth, owns The Angel Inn at Bowness on Windermere; The Coniston Inn at Coniston; The Swan at Grasmere and The Pheasant at Bassenthwaite.