American private equity firm, Lone Star is to sell a package of 42 city centre hotels, including the Jurys Inn chain, with a price tag of well over £1bn.
The properties are run by Amaris Hospitality, which is led by Irishman John Brennan and manages 89 hotels.
Lone Star is understood to have appointed Credit Suisse and Eastdil Secured to advise on its strategic options for the package of 36 Jurys Inns and six Hilton-branded hotels.
According to a report in the Times newspaper in London, a sale is said to be the preferred exit, while an initial public offering has not been ruled out. The company is reported to be willing to sell the brands separately.
Lone Star bought Jurys Inn for £785m in 2015, and sold some hotels, rebranded others and completed a £100m investment programme. A further £30m investment has just begun.
Lone Star acquired the chain of 31 hotels from a group of investors: the Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners.
