Jurys Hotel Galway sold as part of portfolio

Cornelia Mascio
Dicembre 14, 2017

Swedish hotel group Pandox has bought a portfolio of 37 hotels including the Jurys Inn chain from the USA private equity group Lone Star for £800 million (€908 million).

Pandox will retain ownership of 20 hotel properties within the portfolio, along with the property and operations of the Hilton Garden Inn London Heathrow hotel. Pandox is paying 680 million pounds for its part of the Lone Star deal, which also involves Fattal buying rights to operate 16 other properties for 120 million pounds. Originally Middle East-focused Fattal Hotel Group operates 126 hotels in 14 countries.

This includes four Jurys Inn hotels on the island of Ireland; Jurys Inn Dublin Christchurch, Jurys Inn Cork, Jurys Inn Belfast, and Jurys Inn Galway.

The Jurys Inn business will continue to be led by Jason Carruthers and the existing leadership team.

"The acquisition demonstrates Pandox's ability to execute on its business strategy in worldwide competition and grow with good profitability also in new markets", said Anders Nissen, Pandox chief executive.

With this deal, its second biggest, Pandox will gain significant market presence in the United Kingdom and Ireland, it added.

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