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Eton Group bought out of administration

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Eton Group bought out of administration
Written by:

The Eton Group‘s portfolio of five boutique and townhouse hotels has been bought out of administration by the US-based Westmont Hospitality Group, for a sum of about £55m.

The properties include three London hotels – the Academy, the Colonnade and Threadneedles – as well as Quebecs in Leeds and the Glasshouse in Edinburgh. Together, they offer 271 bedrooms. The asking price was £63m.

Westmont Hospitality owns more than 500 hotels in Europe, North America and Asia and is one of the largest franchisees of InterContinental and Hilton hotels worldwide. It also works with Starwood, Accor, Wyndham, Choice Hotels and Best Western.

The Eton Group was sold by Peter Tyrie, the founder of the company, in August 2007 for £70m to JJW Hotels & Resorts, owned by Mohamed Bin Issa Al Jaber. Tyrie initially stayed with the group to help integrate the hotels into the new business before leaving in October 2009. The company went into administration in June 2010.

JJW buys the Eton Collection >>

Eton Collection founder Peter Tyrie to set up new hotel business >>

Eton Group for sale for £63m >>

By Janet Harmer

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