A Boston-based hotel firm is set for a major expansion – with external investment helping to fuel a £20 million growth by 2020.
The Commer Group is putting an undisclosed sum into Bulldog Hotel Group, which owns the White Hart in Boston, to take on a 20 per cent stake in the business.
The specialist investment firm’s managing director Edward Walsh will join as finance director as it looks to double its estate in five years.
Mr Walsh said: “Kevin Charity at Bulldog Hotel Group, is one of the best independent operators of regional hotels in the country, so this investment is a natural development for us. We have an ambitious acquisition and expansion programme and are already in detailed discussions with funding providers as part of that process.”
Bulldog’s hotels – which also include Horncastle’s Admiral Rodney – has won more than 50 industry awards. It bought its first hotel in 2004 and now has a turnover in excess of £10 million, employing more than 320 people in seven locations.
Managing director Kevin Charity said he was delighted to welcome Edward to the board to help bring about the firm’s expansion.
He added: “Our successful business model is based on selecting high quality coaching inns and revitalising their offer across food, drink and accommodation. While many individual hotels can only afford to focus on just one area, we have the resources to ensure excellence across all three income streams and give guests and customers an all-round better experience. This is proving attractive to couples and families for holiday breaks, but also to the corporate market for meetings and conferences.
“The regional hotel market, and particularly the coaching inn sector, remains highly fragmented and with this investment we have never been better placed to take advantage of the acquisition opportunities that we continue to see and allows us to grow the estate from seven to fifteen by 2020.”