A country house hotel based near Hawes in Wensleydale, North Yorkshire has been purchased by a locally-based husband and wife couple.
Stone House Hotel has been purchased by Joe and Holly Hobson from the current owners Peter and Tracy Westwood and Tracy’s brother Chris Taplin who all plan to retire from hospitality following the sale.
The country house hotel was originally built in 1908 and has 24 bedrooms, a 50-cover restaurant and bar, and employs around 40 members of staff.
The couple were assisted through the acquisition process by business advisory and accountancy firm MHA's corporate finance team.
MHA’s advisory team was led by corporate finance director Simon Carruthers with Victoria Dadswell providing tax advice. Richard Robinson, Natalie Ormerod, Ben Mayson, Paul Hardy and Stacy Kinsey at Napthens provided legal advice.
MHA’s support also included referring Joe and Holly to Greater Manchester-based business finance broker PMD Business Finance. John Platt, head of property finance at PMD secured a debt finance package from Natwest which helped to fund the acquisition.
Simon Carruthers, MHA, said:
“MHA has supported Joe and Holly throughout their relocation to the area and the acquisition process. They are passionate about the area in North Yorkshire and the hospitality industry.
“I’m proud we have been able to assist them in their acquisition of an excellent well-established business and look forward to seeing the business thrive and grow in the coming years.”
The acquisition represents a career change for Joe and Holly, who recently relocated to the area with their two-year-old daughter after leaving their full-time roles as lawyers in London.
They have family roots in Yorkshire and Cumbria, and Holly’s family are former owners of the Grange Hotel in Grange-over-Sands.
Holly said:
“My family has a strong history and experience in the hotel industry and I’m delighted that Joe and I will be able to continue this tradition in a community that has already been so welcoming to us. We hope to give back where we can by ensuring an enjoyable working environment for the team, using local suppliers, and supporting local businesses wherever possible.”.
Joe added:
“The Stone House already has an excellent reputation, a loyal customer base and an incredible team in place. Our primary goals are to retain and support this team as best we can and to build upon the hotel’s extremely high standard of guest experience. We are very excited to be part of the local community and to be involved in shaping the next chapter of the hotel’s history.”
