The Royal Bank of Scotland (RBS) and joint-venture partner Patron Capital have sold Jupiter Hotels for £160m.
The hotel group, which owns and manages 26 properties operating under the Mercure brand and six further hotels, was sold to Thai investors Singha Estate – the property arm of the Boon Rawd Brewery Company – and FICO Holding (UK).
Boon Rawd Brewery, which makes Singha Beer, is Thailand’s oldest brewery dating back to 1933 and is owned by the Bhirombhakdi family.