These are the ninth and tenth acquisitions by The Coaching Inn Group since it was taken over by RedCat – the investment vehicle founded and chaired by former Greene King chief executive Rooney Anand – last year, and brings the number of pub hotels owned by The Coaching Inn Group to 28.
It follows an announcement last week of the acquisition of the Castle of Brecon hotel in Brecon Beacons National Park.
“I’m proud to have reached the milestone of our tenth acquisition, since obtaining RedCat’s support last August,” says Kevin Charity, chief executive of The Coaching Inn Group, which operates historic coaching inns in market towns across the UK in areas including the Cotswolds, Peak District, Leicestershire, Staffordshire and Cambridgeshire.
“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.”
The Pheasant Hotel in Kelling is a luxury country house hotel which features 32 bedrooms and was entirely renovated in 2013. Blakeney Manor on the coast is a Grade II listed property, dates in part back to the 16th Century.
Tim Gooding at Christie & Co brokered the deals.
RedCat has grown strongly since its inception in early 2021, having acquired more than 100 pubs and pub hotels, building a hotel room estate of over 1,000 rooms.
Its strategy is to acquire quality inns, managed and tenanted pubs across the UK, and provide the operational expertise and capital investment pubs need to get back on their feet and accelerate their growth.
The approach is flexible, allowing it to acquire single pub assets, all the way through to larger-scale businesses and pub companies.
“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,” says Anand.
“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.”