The Caterer

Hotel firm Mint sale possible as it explores ‘strategic options'

14 January 2011 by
Hotel firm Mint sale possible as it explores ‘strategic options'
Hotel chain Mint has confirmed that it is in search of a "new partner" to help it grow the business following reports that owners Lloyds Banking Group and the Orr family were putting it up for sale.The Daily Telegraph reported that the firm could fetch up to £550m but it is thought the firm could fetch more.Mint was founded in 1995 as City Inn and was rebranded recently. It has seven hotels - two in >London and one each in Bristol, Glasgow, Birmingham, Leeds and Manchester. An eighth is set to open in Amsterdam later this year.>In a statement, the company, which is reported to have debts of around £500m, said it had "appointed advisers regarding its strategic options to continue the roll out of its successful chain of new build, custom made hotels across Europe."David Orr, chief executive and founder of the business said: "We have exciting plans for our business. The strength of the business model has proved its value as we have continued to grow well in through the economic cycle. With the expected completion of our Amsterdam hotel we believe it is the right time to take advantage of the significant opportunities we have to roll out the Mint Hotel brand across Europe."City Inn rebrands as Mint Hotel]( >>[City Inn to open flagship hotel in Amsterdam]( >>[City Inn hires Patrick O'Connell as Tower of London GM >>
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