RedCat buys first new pub in three years

RedCat Hospitality has acquired its first pub in almost three years as it makes a return to the expansion trail.

The group has bought the 40-room Warwick Arms hotel, which dates to the 17^th century, amid a boom in the pubs with rooms market.

It will form part of the Coaching Inn Group, the 35-strong group of historic hotels acquired by RedCat in 2021.

RedCat has not purchased any new pubs or hotels since August 2022 amid a transitional 12 months for the business that saw its 10-site leased pubs division enter administration last year.

The group, which is backed by US investor Oaktree Capital Management, was launched by former Greene King boss Rooney Anand in 2021 to take advantage of the swathe of pub sites coming to the market after the pandemic.

A £61m refinancing deal was secured to stabilise the group last summer and the company plans to invest up to £12m into its estate this year.

RedCat was reportedly in talks to buy Greene King’s Venture Hotels business for £90m, but the deal is understood not to have moved forward.

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