Inn Collection Group (ICG) has acquired the Queens hotel in Ambleside, Cumbria, after announcing plans to more than double its pubs with rooms portfolio by 2022.
The purchase of the hotel, which was marketed for offers in excess of £2.8m, takes the group to 10 properties. It hopes to reach 21 sites by 2022 after securing of a £10m funding package from OakNorth.
Managing director Sean Donkin said: “We are excited to be bringing the Queens hotel and its team into the Inn Collection Group family. Ambleside is a stunning location with an all-year-round appeal for walkers, outdoors enthusiasts and weekenders.
“We take a great deal of pride in repurposing and enhancing historic buildings and are looking forward to investing in the Queens hotel to meld with our award-winning eat, drink, sleep and explore philosophy.”
ICG has said it will continue to concentrate on growing its portfolio in the Lake District, Yorkshire and north east England.
Property firm Bradley Hall acted on behalf of ICG in the acquisition, which was brokered by Colliers International.