Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Major Holiday Inn franchisee, Kew Green Hotels, is expected to expand across the UK and Europe following its acquisition by a Chinese investor.
HK CTS Metropark Hotels Co acquired Kew Green (which owns and operates 54 hotels within the UK) from Goldman Sachs and TPG for a sum believed to be around £400m.
Senior management of the group, which includes CEO Paul Johnson, has been retained. HK CTS Metropark said that relationships with the existing franchise partners will also remain unchanged.
Johnson said: “We are delighted that HK CTS Metropark Hotels has chosen to invest in Kew Green. Their support will allow us to continue our aggressive growth strategy as well as giving us access into the rapidly growing Chinese tourist market.”
Jeremy Muhan, chairman of HK CTS Metropark called the purchase of Kew Green a “tremendous acquisition”, and said that it provides the company with a “strategic growth platform” within the UK and across Europe.
He said: “Investing overseas will enable us to bridge Chinese tourism with the rest of the world. The acquisition of the first rate Kew Green Hotels business is the first step and it gives us this ability and provides a platform to grow from.”
Kew Green is currently the franchisee of 45 Holiday Inn hotels, 44 of which it owns. The company also operates hotels under brands including Holiday Inn Express, Crowne Plaza, Ramada Encore, Ramada and Courtyard by Marriott.
It also manages two independent hotels, the Richmond Hill in South West London and the Grand in Brighton.
