A decline in business travel has seen Shepherd Neame sell off two of its Kent hotels in a deal worth £5.75 million.

The Faversham brewer offloaded the Conningbrook Hotel in Ashford and the Royal Wells Hotel in Tunbridge Wells as it looks to focus on the leisure market, which has bounced back more significantly since lockdown.

Both the properties have been snapped up by the RedCat Pub Company, a London-based outfit fronted by former Greene King chief executive Rooney Anand.

RedCat has set about acquiring venues across the country using US venture capital funding in a bet on the long-term recovery of the hospitality sector post-pandemic.

George Barnes, Shepherd Neame's property and services director, said: "We can confirm that we have sold the Conningbrook Hotel in Ashford and The Royal Wells in Tunbridge Wells as the properties no longer fitted our portfolio.

"They rely on business trade and therefore have a different profile from our coastal hotels which target the leisure market and have performed very well since re-opening."

The Conningbrook Hotel, in Canterbury Road in Kennington, has 29 bedrooms and facilities to host events, while the Royal Wells Hotel is situated in a hilltop position on Mount Ephraim.

In its annual report, Shepherd Neame chairman Richard Oldfield reflected on the experience of the pandemic, writing: "We are fortunate in having a strong rural and coastal pub base to benefit from the increased custom that could come from less commuting as well as from the presumed trend to warmer weather.

"We have also been able to innovate with increased use of booking and ordering systems and table service."