Ashurst has advised on the GBP680 million sale of the Jurys Inn hotel chain to US private equity group Lone Star.
The business, which has four hotels in London, another 21 across the UK, five in Ireland and one in Prague, has been sold less than two years after restructuring its debt, in relation to which Ashurst also acted.
Ashurst acted for the seller, Jurys Inn Holdings Limited, which is owned by Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners. Jurys Inn employs about 2,000 people and operates 7,000 rooms. The transaction is subject to approval from the Competition and Consumer Protection Commission in Ireland, and is expected to close by the end of March.
The Ashurst team was led by corporate partner Rob Aird, assisted by associate Claire Broom, solicitor Sarah Leiper and trainee Jake Hadfield. Partner Duncan Liddell, assisted by senior associate Alexi Dimitriou advised on the competition aspects of the deal. Counsel Jonathan Hoare (real estate), senior associate Andy Wright (pensions), and consultant Andrew Waite (environmental law) also advised on the transaction. Associate Caroline Hogan and solicitor Dominic Boon assisted in relation to commercial and technology and employment matters, respectively. William Fry (led by former Ashurst partner, Eavan Saunders) advised the seller on matters of Irish law.