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UK: US investment firm spends $1B on hotel group

By  |  January 26, 2015

UK-based Jurys Inn, which owns a portfolio of 31 hotels, is set to be acquired by Lone Star Funds, a US investment firm for about $1 billion. The deal was agreed by Lone Star Funds to buy the chain from Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners.

The business has been sold by a group of investors less than two years after restructuring its debt. Hassan Al Nabhani, chief executive of Oman Investment Fund, said debt restructuring was key to the improved returns in recent years.

The transaction is subject to approval from the Competition and Consumer Protection Commission in Ireland, and is expected to close by the end of March.

Full Content: The Irish Times

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