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Wed 1st Jun 2022 - RedCat buys two more sites for growing Coaching Inn Group estate |
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RedCat buys two more sites for growing Coaching Inn Group estate: RedCat Pub Company, the investment vehicle founded and chaired by Rooney Anand to invest in the UK pub sector, has acquired two venues on the highly sought-after North Norfolk Coast – The Pheasant Hotel and Blakeney Manor Hotel. These are the ninth and tenth acquisitions by The Coaching Inn Group under RedCat ownership and bring the number of pub hotels owned by The Coaching Inn Group to 28. The Coaching Inn Group, acquired by RedCat last August, operates historic coaching inns in market towns across the UK, in areas including the Cotswolds, Peak District, Leicestershire, Staffordshire, and Cambridgeshire. The Pheasant Hotel is a luxury country house hotel which features 32 bedrooms and was entirely renovated in 2013. It is located in Kelling on the North Norfolk Coast in an area of Outstanding Natural Beauty. Blakeney Manor, a Grade II listed property, is situated nearby on the North Norfolk coast. Parts of the property date back to the 16th Century and these were significantly extended before forming a hotel in the 1960s. The property is also located in an area of Outstanding Natural Beauty, as well as a Conservation Area, and has spectacular views overlooking the famous salt marshes. RedCat has grown strongly since inception in February 2021, having acquired over 100 pubs and pub hotels, amounting to a hotel room estate of over 1,000 rooms. RedCat’s strategy is to acquire quality inns, managed and tenanted pubs across the UK. It aims to provide the operational expertise and capital investment pubs need to get back on their feet and accelerate their growth, as the sector recovers from the pandemic. The company’s approach is highly flexible, allowing it to acquire single pub assets, all the way through to larger-scale businesses and pub companies. Kevin Charity, chief executive of The Coaching Inn Group, said: “I’m proud to have reached the milestone of our tenth acquisition, since obtaining RedCat’s support last August. With these acquisitions, we’re focusing on targeting the highly active tourism market in scenic North Norfolk and I’m looking forward to continuing to build a very attractive portfolio.” Rooney Anand, executive chairman, RedCat Pub Company, said: “With RedCat’s support, the Coaching Inn Group team has done a great job, focusing on running high-quality pub hotels across the country which will offer customers the best possible service and good value. North Norfolk is a jewel in the UK’s tourism crown and I look forward to catering to international travellers and staycation destination customers who want to experience the area.” Tim Gooding, director at Christie & Co, who brokered the deals, added: “It was a pleasure to broker these two simultaneous pub hotel sales for our respective clients and work closely again with RedCat, supporting their latest acquisitions. We have known the businesses for many years, with The Pheasant hotel being a best-in-class destination venue. Similarly, Blakeney Manor draws year-round trade due to its exceptional location, arguably the finest along the North Norfolk coastline, which was a key driver in the acquisition.”
Two days to go before next edition of The New Openings Database release, to show details on 257 new sites, 11,989-word report included: The next edition of The New Openings Database, which is produced in association with StarStock, will show the details of 257 newly announced site openings and upcoming launches for Premium subscribers when it is published on Friday (3 June), at midday. The database shows the details of which company has opened a site or its plans to open one in the future. It will have details on what type of site it is and its location. There will also be a website link to the businesses so you can find out more about them. It is published on a monthly basis. The next edition of the database features expanding experiential concepts, niche cuisine and regional pub and restaurant operators. Premium subscribers will also receive a 11,989-word report on the new additions to the database. Premium subscribers also receive access to three other databases. The latest Propel Multi-Site Database, which is produced in association with Virgate, was sent to Premium subscribers last Friday (27 May). The database contained 42 new companies, bringing the total number of businesses listed up to 2,481. The 140 sites run by those 42 new additions means the entire database of sites has reached 65,402 sites. Premium subscribers also received a 3,212-word report on the new businesses added. The go-to database provides company names, the people in charge, how many sites each firm operates, its trading name and its registered name at Companies House if different. There is also a synopsis of what the business does and significant news associated with it. Premium subscribers also receive the Turnover & Profits Blue Book, which is produced in association with Mapal Group. The Blue Book, which is also updated every month, provides an insight into UK operator turnover and profitability over five years, profit conversion and directors’ earnings. Premium subscribers also have exclusive access to the UK Food and Beverage Franchisor Database, which is an exhaustive guide to the companies offering a food and beverage franchise in the UK and will be updated every two months. The second edition features 120 companies and almost 47,000 words of content, providing insight on the offer, locations, cost, business background, contacts and other key details. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. Subscribers also receive access to Propel’s library of lockdown videos and Friday Wrap interviews and also have access to a curated video library of the sector’s finest leaders and entrepreneurs, offering their insights on running outstanding businesses in the sector. Premium subscribers also receive their morning newsletter 11 hours early, at 7pm the evening before our 6am send-out; regular video content and regular exclusive columns from Propel group editor Mark Wingett.
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