Colliers’ hotels team arranges third acquisition for the Northumberland-based group this year
The Inn Collection Group has completed its latest acquisition of the Dower House Hotel & Spa near Harrogate in an undisclosed deal.
This is the third transaction with the group the hotels agency team at commercial real estate firm Colliers has arranged in 2021.
The Grade-II listed hotel with 29-letting bedrooms within the town of Knaresborough has a strong market performance for commercial activity due to its conferencing facilities, fantastic leisure and relaxation offering as well as being ideally located for tourism. It will continue trading under The Inn Collection Group’s ‘Eat, Drink, Sleep and Explore’ award-winning brand.
The Alchemy-backed group is planning a refurbishment programme for 2022 which will include a sympathetic restoration and remodelling of the building to enhance its environment, improve accessibility and align the site Group’s quality, food-driven pubs with rooms offer.
Sean Donkin, managing director of The Inn Collection Group, said: “We are excited to be growing our foothold in Yorkshire with the addition of The Dower House and Spa. It is a tremendous site, steeped in character and history in a stunning destination location.
“We are delighted to be bringing Dower House and its team into The Inn Collection Group family. It’s a great time for us to be joining the community in Knaresborough as we enter the festive period. We’re looking forward to investing in the team and site and realising Dower House’s full potential while preserving the heritage and charm it holds.
“As an established brand in the northeast and west of England, we are looking to increase our presence and customer base here in Yorkshire, with our proven offering of food-driven pubs with quality accommodation.”
The hotel which in parts dates back to the mid-1700s, with modern additions, is located close to the Harrogate Conference Centre, as well as the cities of York and Leeds, and the rolling hills of the Yorkshire Dales. It boasts a 120-capacity for functions, including weddings and conferences, and features a beautiful walled garden with two al fresco terraces. The modern spa and health club has its own identity with access from inside the hotel and externally, it boasts a heated indoor swimming pool, jacuzzi, sauna and steam rooms, as well as four treatment rooms.
Julian Troup, head of Hotels Agency at Colliers arranged the sale. He said: “2021 has seen lots of activity in the hotel market, with Colliers selling more than one hotel a week. It’s clear that established hotel brands have not been perturbed by the pandemic and are confident in expanding their portfolios to take a bigger share of the market.
“This is the third opportunity we’ve been able to bring to The Inn Collection Group this year, they previously purchased another Yorkshire business, The Ripon Spa Hotel, as well as the Waterhead Hotel in the Lakes.
“While the pandemic continues to linger over us, it’s clear that the staycation boom will continue into 2022, and locations such as Yorkshire, where we’ve sold seven hotels over the last two years, will continue to be popular for guests as well as expanding brands.”
