North East pubs group outlines expansion plan

NORTH East pubs with rooms company Inn Collection Group is set for expansion across the UK on the back of a £125m finance package.

- COREENA FORD Business writer [e-mail]

The Newcastle-based hospitality group already owns and operates 31 sites across the North and North Wales, including the Tynemouth Castle Inn and The Bamburgh Castle Inn and 10 sites in the Lake District.

Now the company is poised to put its latest expansion strategy into motion, with the support of a nine-figure funding package from HSBC UK. The firm is using the funding to increase its portfolio through the acquisition of a number of leisure sites across the country, which will soon be announced, taking its footprint to more than 40 locations over the next five years.

The deal comes as the group announces results for 2024, with the accounts saying how "a continued pipeline of acquisition opportunities is developing at the time of issuing the financial statements, all at different stages of progress".

Accounts covering 2024 for the firm's holding company Vindolanda Topco posted turnover of £65.7m, up from £52.6m, on the back of trading across 1,083 rooms in 26 sites in 2024 Operating profit was £449,000, converted from the previous year’s loss of £2.8m which resulted from a year of significant investment.