THE Coaching Inn Group, which is part owned by Tadcaster-based property and investment company Commer Group, has secured a further £10 million investment from BGF (Business Growth Fund) to support a planned £50 million expansion across the UK.

The business, which was recently named as one of The Sunday Times Virgin Fast Track 100 Ones To Watch, currently operates 12 coaching inns and will use the capital to increase the size of its portfolio to 25 properties by March 2019.

The £10 million injection follows an initial investment of £4.5 million from BGF in March 2015, which helped the group to purchase and operate an additional six properties, including The Feathers Hotel in Helmsley, The King’s Head Hotel in Richmond and the Golden Fleece Hotel in Thirsk.

The group has doubled its earnings before interest, tax, depreciation and amortisation in the first six months of this year and reported a 33 per cent increase in sales.

With three acquisitions already in the pipeline and due for completion by early next year or before, the group is in a strong position to achieve its goal.

Its founder and chief executive, Kevin Charity, said: “Having set a target of doubling the estate in five years, we’ve almost hit that target in less than two years.

“We now have a tried and tested formula and ultimately our goal is to acquire the right properties in the best locations, and sensitively restore them in line with the character of their local surroundings.”