Seasoned hoteliers Kristy Carey and Chris Newsham have acquired the Old Wisteria Hotel, in Oakham, Rutland for an undisclosed sum with backing from Allied Irish Bank (GB) who have provided a funding package to complete the purchase.
The grade II listed hotel has been rebranded as the Wisteria Hotel and is located at the top of the high street in the historic market town of Oakham. It is a former hunting lodge and cottage dating back to 1604.
Over the years the property has developed from its humble beginnings as a hunting lodge, to a private residence, then in 1979 was transformed into a hotel by the Boulton family. Since 1985, the hotel has been extended and become established as one of Rutland’s leading hotels. It is appropriately named after the very old well established Wisteria plant that covers the side of the hotel and blossoms lilac every May.
The Wisteria Hotel has 25 bedrooms with en-suite facilities, and events space for up to 100 delegates, catering for leisure and business guests.
Husband and wife team Chris Newsham and Kristy Carey have a combined 29 years working in the hotel industry in a variety of 4 star branded international hotels with great enthusiasm and passion. This is their first joint venture and the funding provided by Lisa Murray at Allied Irish Bank (GB) in Manchester has helped them to achieve their ambition of owning their own hotel.
The duo also plans to enhance the hotel to freshen up the decor and its current facilities. Day to day the couple will work together to run the hotel and will be assisted by 9 members of staff.
Kristy Carey, Co-owner of the Wisteria Hotel said: “We are so delighted to have been able to purchase this historic hotel, this has been a dream for us. We were struck when visiting the county of Rutland (the UK’s smallest county!) by its beauty and facilities, with Rutland Water at its centre offering a plethora of outdoor activities.
“We immediately fell in love with the hotel on our first viewing and felt the location of Oakham was perfect, being so closely located to Leicester, Peterborough and Stamford and less than 2hrs by train from London. We have many exciting plans for the hotel over the coming months, having recently appointed renowned local chef Neil Hornsby as our Head Chef, and started redecoration works in May.
“We are keen to get the events space up and running, as our Barn Suite is absolutely ideal for weddings, events and meetings alike. Thank you to Lisa and the crew at Allied Irish Bank (GB) for helping us make this dream a reality.”
Lisa Murray, Relationship Manager at Allied Irish Bank (GB) said: “This was a very special deal for the team because it was great to help such genuine people realise their dream of owning their own hotel. Kristy and Chris now live in the Wisteria Hotel with their four year old son and we are delighted to support them. A very special thank you to everyone involved who helped to get this deal over the line and who helped to facilitate a pretty smooth completion.”