A US investor has acquired The Old Bell Hotel, a leisure property in Wiltshire believed to be England's oldest hotel, to take advantage of the growing staycation trend.
Whim Hospitality of Texas acquired the 13th century hotel, selling off a guide price of £3.75m. The hotel had been under family ownership for many years.
The acquisition marks Whim's entry into the UK hospitality market. The investor bought the property to capitalise on the growing staycation trend that has blossomed during the COVID-19 pandemic.
The 34-bedroom Grade I-listed historic country hotel dates back to the Middle Ages and is adjacent to the 12th century abbey in the ancient market town of Malmesbury, to the north of the River Avon.
Recently renovated, The Old Bell Hotel still has several original features including a fireplace in the restaurant dating back to 1220.
The hotel has a public restaurant, bar and options for private dining. The Old Bell Hotel is fully licensed for indoor and outdoor civil ceremonies and caters weddings of up to 65 guests, with the Library and Garden Room available for parties and corporate events of up to 60 people.
Located in the centre of Malmesbury, the hotel is in close proximity to the Cotswolds and only a few minutes’ drive from the M4. The Old Bell Hotel, which has links to Bath and Bristol, has proved popular with both leisure and corporate travellers.
Matthew Smith, partner in the hotels team at Knight Frank, said: “Purported to be England’s oldest hotel it is no surprise The Old Bell Hotel attracted global interest. We are delighted for Whit and Kim Hanks of Whim Hospitality as they embark on their first UK hotel acquisition, with exciting times ahead as they have large-scale plans to reposition the business, and we are confident this will be a huge success under their stewardship. Given the strength of the staycation market, which is continuing to power the hotel market in 2021, interest in these types of distinctive assets remains high from a range of international and domestic investors.”
Whit Hanks, co-Founder of Whim Hospitality, said: “We are thrilled to have the opportunity to bring our Whim Hospitality brand of welcoming hospitality to The Old Bell Hotel in the historic market town of Malmesbury, home of our Hanks family ancestors. We are looking forward to meeting our guests, members of the community, local artisans, businesses and entrepreneurs as we create a programme for The Old Bell Hotel to be an inclusive, engaging destination in Malmesbury.”