Hotel group, Jurys Inn is to be acquired by US private equity firm, Lone Star Funds for £680m.
Founded in Ireland, the chain currently runs 31 city centre venues – with four in London, 21 across the remainder of the UK, five in Ireland and one in Prague. The company currently employs 2,000 people and operates 7,000 rooms.
Lone Star specialises in buying up distressed debt tied to property. The Texas-based firm last year took control of Puma Hotels, now known as The Hotel Collection, and lat year bought £5.2bn worth of assets from IBRC.