Jim Cockell, who has also worked for Principal Hayley, De Vere and Hilton, plans to run the 18-bedroom hotel in Stow-on-the-Wold as a family business.
Cockell told BigHospitality the hotel was well positioned to take advantage of the ‘massive interest’ in the Cotswolds from UK and international visitors.
The hotel is already up and running, but Cockell has plans to carry out renovations over the next year to further develop the business.
“The hotel probably hasn’t seen renovation for 10 years,” he said. “Over the next 12 months we intend to step up the food and beverage outlets and renovate the bedrooms. We will also make shorter term improvements, like introducing WiFi.”
The biggest challenge, said Cockell, will be balancing the ‘quintessential Cotswold feel’ with the demands of modern travellers. However, he is confident the property has enough traditional features to retain its character through the renovation process.
Cockell is also working on a concept for the hotel’s restaurant. “The hotel is very food driven and we will need to maintain that,” he said. “There is a lot of the same type of food in Stow so it is about coming up with an interesting concept."
The sale of Old Stocks was not an easy one, with two previous agreements falling through at the last minute last year.
However, Peter Brunt of Colliers International, who brokered the deal, said the hotel received ‘a great deal of interest’ due to its steady revenue growth, ‘excellent profits’ and prime Cotswolds location.
“The town is surrounded by antique and gift shops and many other Cotswolds locations are within easy reach,” he said. “There is no doubt that it offers the potential for further growth.”