HOTELS in two of North Yorkshire's market towns have been sold in a £5 million deal to Lincolnshire-headquartered hotel chain Coaching Inn Group.

The Golden Fleece in Thirsk, which is one of the oldest coaching inns in England, dating back to the 18th century, has been sold by Homfray Hotel to Coaching Inn Group, along with the The Feathers in Helmsley.

The deal is part of a £20 million expansion programme at Coaching Inn Group, with the two hotels now bringing its property portfolio up to ten sites, with 300 bedrooms in its estate.

Kevin Charity, founder and managing director of Boston-based Coaching Inn Group, said: "Awareness of our acquisition plans is enabling us to have a number of off-market meetings in the coaching inns sector.

"This deal was the result of one of those discussions and fits perfectly with our expansion plans."

Mr Charity also revealed that the company will invest in both sites in the new year.

"We'll be investing across accommodation, food and beverage, and adding to what is already a very well supported offering," he added.

PH Land and Developments acted as agents on the transaction for the Coaching Inn Group.