North East pubs with rooms company Inn Collection Group is set for expansion across the 海角视频 on the back of a 拢125m finance package.
The Newcastle-based hospitality group already owns and operates 31 sites across the North and North Wales, including the Tynemouth Castle Inn and The Bamburgh Castle Inn and 10 sites in the Lake District.
Now the company is poised to put its latest expansion strategy into motion, with the support of a nine-figure funding package from HSBC 海角视频. The firm is using the funding to increase its portfolio through the acquisition of a number of leisure sites across the country, which will soon be announced, taking its footprint to more than 40 locations over the next five years.
The deal comes as the group announces results for 2024, with the accounts saying how 鈥渁 continued pipeline of acquisition opportunities is developing at the time of issuing the financial statements, all at different stages of progress鈥.
Accounts covering 2024 for the firm鈥檚 holding company Vindolanda Topco posted turnover of 拢65.7m, up from 拢52.6m, on the back of trading across 1,083 rooms in 26 sites in 2024 .Operating profit was 拢449,000, converted from the previous year鈥檚 loss of 拢2.8m which resulted from a year of significant investment.
Now trading from its 31 sites 鈥 having reopened a number of acquired venues following major refurbishment projects 鈥 the group is aiming for double digit growth through the new five-year plan. The growth will support an expansion of its workforce from 1,300 to more than 2,000 employees across a range of roles.
Joe Bernhoeft, chief financial officer at The Inn Collection Group, said: 鈥淪taying true to our roots, we always aim to celebrate traditional British pub culture whilst providing comfort and welcoming spaces across the country. We are looking forward to this next stage of company growth as we continue to expand across the 海角视频 and provide sites that are warm and full of character.鈥
Stephen Smith, relationship director at HSBC 海角视频, added: 鈥淲e鈥檙e pleased to welcome The Inn Collection Group to HSBC 海角视频 and to provide a tailored financing package that supports the business and its management team in achieving their growth ambitions in the years ahead. This transaction further reinforces HSBC 海角视频鈥檚 commitment to supporting the 海角视频 hospitality sector鈥
The company was first formed in 2013 to specialise in handpicked coastal, country, town, and city locations with each room designed to feel like a home away from home. In 2022, the group was acquired by a company backed by The Harris Family Trust.
Following publication of the accounts, a spokesman said: 鈥2024 was a year of further growth for The Inn Collection Group, with three new sites opening, multiple quality refurbishments completed, and a further site remodelled significantly during the year with the goal of launching at the end of Q1 2025 into the North Wales market.
鈥淩evenue grew strongly across all channels, with more rooms occupied, drinks served, and meals sold than ever before, as much of our estate traded their first full year post their recent refurbishments. Thanks to the hard work and expertise of our excellent teams, we stayed true to our commitment of great customer service across the estate in some of the very best locations in Northern England and Wales.
鈥淲e invested in training and technology, pushing forward our understanding of our business, our customers and how best to serve them efficiently and effectively. We invested in our estate and will continue to do so in 2025, supported by our new banking partners HSBC following a group refinance in summer 2025.
鈥淭he group will continue to expand our footprint and offer, alongside our brand reputation and trust, with further acquisitions and refurbishments planned where appropriate opportunities exist into 2025 and beyond.鈥
The trading group covers five key regions in the North East, Yorkshire, Lake District, North West and North Wales.
