The Pub Chain Fuller group has acquired seven freehold country inns and hotels alongside eight staff cottages in the Cotswolds in a recent €40 m deal.
The chain is also planning to purchase two leasehold bars in Birmingham. The acquisition is said to be funded from existing banking facilities and is expected to be completed on October 31, 2019.
Fuller’s chief executive, Simon Emeny, said that the inns’ portfolio would complement its existing estate of pubs with rooms. He said that inns and hotels were being acquired in the iconic locations of Cotswolds.
The additions are supposed to further enhance the group’s portfolio of premium accommodation and will add 201 stylish bedrooms.
The new pubs and hotels will be quintessentially English and will have a focus on fresh food and exceptional customer service.
Founded in 1997 by operators Michael and Pamela Horton, the group’s estate will include an eighth hotel- The Broadway Hotel, Worcestershire- supposed to be retained by the current owners.
The Cotswold property generated revenue of €17.5m in the financial year ending September 30.
Earlier the London-based Pub Chain Fuller group generated strong revenue growth in its first full-year results.
The revenue grew by 7 percent from €403.6m in 2018 to €431.1m. The beer business was sold by the company to Asahi Europe during the financial year for €250m. Fuller also took over 11 new sites, including four bars in the city and six Bel & the Dragon country inns across the home countries.
The transport hub presence was also developed by the pub chain group by opening The Signal Box at Euston Station and it also added 92 bedrooms to its hotel business including 15 at the Counting House in Cornhill area.
