Fast-growing East Anglian hospitality group snaps up pub in north Norfolk
- Credit: Chestnut Group
A pub group which is eyeing East Anglia's tourism hotspots has snapped up a pub in Holt.
The Lawns joins the Chestnut Group's fast-growing portfolio across the region, which started with founder and chief executive Philip Turner's local, The Packhorse Inn, near Newmarket. He sees great scope for growth across areas such as north Norfolk, he says.
The hospitality brand runs 16 pubs - and counting - from The Globe Inn at Wells-Next-the-Sea down to the Crown at Stoke-by-Nayland to The Carpenters' Arms at Great Wilbraham, taking in the counties of Suffolk, Norfolk, Essex and Cambridgeshire.
The latest acquisition - the group's second in Holt where it owns The Feathers - is part of an ambitious three-year plan.
In the first year alone this is bringing four new inns to the collection and boosting the workforce by 80.
Its year-on-year revenue growth is 150%, it said.
“We are delighted to welcome The Lawns in Holt to our collection - a destination that’s a key part of the tourism scene in Norfolk,” said Mr Turner.
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“Following on from the recent acquisition of The Feathers this new pub will add extra rooms to our portfolio in the town. We have plans to renovate both pubs in the coming months and look forward to playing our part in the continued success and growth of staycations in North Norfolk.”
“Going into 2022 with another new acquisition has only been possible as a result of us having a clear strategy for growth, focusing relentlessly on investment in our sites and, most importantly, bringing in new talent to the team to build on the great people we have in the organisation.”
He added: “The past two years have been incredibly tough for the industry, particularly for our people. In a sector which is facing real recruitment challenges – retaining and attracting the best people has never been more important.”
The Globe in Wells is currently undergoing a complete transformation of the pub including 19 bedrooms and is due to re-open in March.