A West Yorkshire-based hotel group looks set to double its property holding after a 20 per cent buy-in by property and investment company Commer Group.
The Tadcaster-headquartered investor is refusing to say exactly how much acquiring the one-fifth stake in the independent Bulldog Hotel Group has cost it, but Commer says it has already pumped £2m into the business.
The deal — which will see Commer managing director Edward Walsh join Bulldog’s board as finance director — will also kick-start an expansion programme allowing the hotel group to invest around £20m and double its estate by 2020.
With an industry reputation for transforming underperforming establishments into busy and profitable businesses, the Bulldog Hotel Group already owns the Old Bridge in Holmfirth and has other well-established hotels in Leicestershire, Lincolnshire, Northamptonshire, Gloucestershire and County Durham.
“Our successful business model is based on selecting high quality coaching inns and revitalising their offer across food, drink and accommodation,” explained Bulldog’s managing director, Kevin Charity.
“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.”
Attracting a range of business from family to conference trade was vital, added Charity. “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 properties,” he said.
Asked to comment on his group’s latest board member, Charity said: “We’re delighted Edward is joining Bulldog to lead our investment programme. His extensive financial experience as an investment banker and business knowledge and contacts through the Commer Group, will help us realise our ambitious growth plans.”
With an investment and property portfolio worth more than £40m the Commer Group has specialised in the leisure industry. “We carefully choose the right acquisitions and back the best people,” said Edward Walsh.
“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 currently has a turnover of £10m and employs 320 staff across its seven sites.
