Thu, 25 Jun 2015 | BUSINESS SALE
The Business Sale Report understands that Rothschild has been appointed by the American investor Lone Star, as strategic advisors to review is UK hotel portfolio, which includes Jurys in and the Hotel collection.
Dallas-based Lone Star Funds has requested Rothschild bankers to look at its assets, which notably include the Jurys Inn and The Hotel Collection, Sky News reported.
The investment fund first took control of Jurys Inn back in January 2015 for £680 million. This saw the team take over around 30 properties with a total of some 7,000 rooms.
Industry observers were somewhat surprised by the speed with which Rothschild were appointed to conduct a strategic review of Lone Star's assets. However, it remains unclear whether the fund will look at a stock market listing or an outright sale of the business.
Hotels are big news in the mergers and acquisitions market at the moment with Malmaison Group recently sold for more than £300 million to a Singaporean investor and a sale also on the cards for Travelodge as the low-price chain preps for a sale that could see it valued at as much as £1 billion.
On a more local level, interest in two major hotel buildings on the NEC site in Birmingham are due to be sold by the city's council. The hotels – Hilton and Crowne Plaza – are not expected to be affected by the deal but it will see the commercial land up for sale in a freehold sale.
View other hotels for sale.
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