Bill Gore and Jack Terras, partners at former WaverleyTBS backer Manfield Partners, are backing new venture Provincial Hotels and Inns, which launched this week with the acquisition of 11 sites from Mitchells of Lancaster, MCA understands.
Gore and Terras are shareholders in the new venture, which has been launched by hospitality management firm Onecall Hospitality and is planning a series of further acquisitions over the next 18 months.
Mitchells of Lancaster, which has been exploring its options over the last 18 months, has sold nine pubs and two hotels to the new venture, leaving it with an estate of 38 sites.
Provincial said its aim is to offer two types of hostelry: “proper pubs” serving craft beers and a selection of “English bar tapas” and nibbles; and family-oriented venues based on “quality, value for money dining with exclusive table wines, coffee lounge and play areas”. Its new portfolio comprises a mix of managed and tenanted properties.
Mark Chambers, provincial director of Onecall Hospitality, said: “Our aim is to take iconic but underperforming venues and breathe new life into them. Through a programme of refurbishment and restyling, and using our expertise in hospitality management, we will place them once again at the heart of their communities.
“The hotels will be community venues and cater to market demand, rather than following a set formula. For example, the Clarendon at Morecambe will be inspired by the seaside holidays of yesteryear with a very traditional tea room, while the County in Carnforth will offer family dining and also provide a venue for events and functions – exactly what it was renowned for 10 years ago.”