Investment firm acquires Jurys Inn chain for €910m

The Jurys Inn hotel group has been acquired — pending regulatory approval — by US investment firm Lone Star Funds for £680m (€910m).

Lone Star has a strong recent track record of making purchases in and relating to Ireland, having bought a portion of Lloyds Banking Group’s Irish loan book, Anglo Irish Bank’s UK loan book and assets previously held by Nama and AIB.

The Jurys Inn purchase is being conducted through an affiliate and the deal — subject to approval from the Competiton and Consumer Protection Commission — is expected to close before the end of March. Jurys Inn is co-owned by a number of shareholders including Mount Kellett Capital Management, the Oman Investment Fund, Ulster Bank, Avestus Capital Partners and Westmont Hostpitality Group.