The four-star Waterhead hotel in the Lake District has been sold by English Lakes Hotels Resorts & Venues for an undisclosed sum to the Inn Collection Group in an off-market deal.
The sale of the 41-bedroom boutique hotel, which overlooks Lake Windermere, marks the eighth property acquired by the Inn Collection Group in the Lake District. The site was never offered for sale, but English Lakes Hotels Resorts & Venues was approached by the Northumberland-based Inn Collection Group, with managing director Sean Donkin saying Waterhead Hotel had been long in the company's sights.
Donkin said: "Our customers are looking for experience-led stays and the Waterhead hotel delivers on everything we look for in a site – a distinctive USP and an attractive environment in a winning destination, where our guests want to spend their well-earned leisure time to eat, drink and stay with us."
Julian Troup, head of hotels agency at Colliers, said the sale is one of several in the area in recent months, illustrating the high demand for hotel and inns in the region.
"There is no sign of this demand abating, and on the contrary we are anticipating it to increase given that staycation break trade is continuing to soar in popularity as holidaymakers increasingly choose to remain in the UK amid concerns about travelling abroad during a global pandemic," he said.
"The sale of the Waterhead hotel is yet another example of our ability to undertake an off-market transaction in a discreet and confidential fashion."
Simon Berry, managing director of English Lakes Hotels Resorts & Venues, added: "The sale of Waterhead is an opportunity for the group to focus on our properties that have room to expand and on developing spa facilities. We have some very exciting developments in the pipeline.
"After 46 years it is, of course, a bit sad to see a property leave the portfolio, but we know it will be good for the Waterhead as the new owners focus on that style of property. We have sold the venue to a good operator, who is very committed to the Lake District, and we wish them well."