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The Jurys Inn chain of hotels has been acquired by Fattal Hotels Group and Pandox AB (Publ) in a deal reported to be worth £800m.
The Jurys portfolio comprises 37 hotels across major cities throughout the UK and Ireland. The transaction, which also includes the Hilton Garden Inn London Heathrow hotel, is expected to close before the end of 2017.
Under the terms of the deal, Pandox will retain ownership of 20 investment properties within the portfolio along with the property and operations of the Hilton Garden Inn.
Leonardo, a subsidiary of Fattal, will acquire the operating platform which includes 36 hotels and the Jurys Inn brand. Leonardo will operate all 35 Jurys Inn branded hotels in the UK, Ireland and the management contract for Jurys Inn Prague.
David Fattal, CEO of Fattal Hotels Group, said: “We are proud to continue consolidating and developing our very positive collaboration with our existing expansion partner, Pandox. Jurys Inn is a great business and brand with a well invested portfolio of high performing hotels in prime central locations in key cities throughout the UK and Ireland.
“We were also impressed with the strength of the management and the quality of the workforce which has contributed to the high level of customer satisfaction that the Jurys Inn brand enjoys. We look forward to working with the Jurys Inn team as we continue to expand our presence in key growth markets across Europe.”
The portfolio of 36 hotels will continue to be branded Jurys Inn and managed by the current Jurys Inn managing director, Jason Carruthers, and the existing leadership team. All employees will continue to be employed under their existing terms and conditions.
