LONE STAR TO PURCHASE JURYS INN FOR £680 MILLION

Mid-market hotel group Jurys Inn is to be sold to an affiliate of US private equity firm Lone Star Funds for £680 million (approximately £90,300 per room for the 7,523-key portfolio). Lone Star has signed a definitive agreement to purchase the chain of 31 hotels across the UK (four in London and 21 in provincial locations), Ireland (five properties) and the Czech Republic (one hotel in Prague) from Jurys Inn's shareholders, which comprise Mount Kellet Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners. The sale, which is expected to close during the first quarter of 2015, is subject to approval from Ireland's Competition and Consumer Protection Commission.

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