First Welsh acquisition for the Inn Collection Group

The Inn Collection Group has acquired its first Welsh site, the Swallow Falls hotel, a 19-room property and hostel with campsite, located in Snowdonia National Park.

The deal, for an undisclosed price, is also the group's first outside of the north of England, where the company is based.

The site will be closed while the Inn Collection Group embarks on an immediate restoration of the building, which is located alongside the famous Swallow Falls waterfall in Betws-y-Coed.

The Swallow Falls hotel is the Alchemy-backed group's seventh purchase of 2021, and the latest of this month, following the acquisition of the 38-bedroom Dower House hotel in Knaresborough, Yorkshire.

The group said there were more purchases in the pipeline as it continued to expand with strategic ‘buy and build' growth plans, supported by OakNorth Bank. For example, plans were recently approved for a 42-bedroom new build site on the seafront in Redcar, Teesside.

The company's estate also includes sites in Northumberland, County Durham, Tyne & Wear, Cumbria, Lancashire and Yorkshire.

Sean Donkin, managing director of the Inn Collection Group said: "We are absolutely delighted to be bringing the Swallow Falls hotel into our pubs-with-rooms family and to have completed on our first Welsh purchase.

"We look forward to investing in a significant but careful refurbishment of this property and beginning a new chapter for the Inn Collection Group as part of the community fabric here in North Wales."

Ward Hadaway corporate partner Imogen Holland provided legal advice on the acquisition with Silverstone and Bradley Hall on pre diligence.