Jurys Inn is driving forward the profitability of Amaris Hospitality, the collection of hotels created by American private equity group Lone Star.
The mid-market brand, which was acquired by Lone Star in January 2015 for £680m when it comprised 31 hotels, is also where Amaris will focus its future growth, John Brennan (pictured), chief executive of Amaris Hospitality told The Caterer.
Amaris today comprises a total of 70 properties which in addition to 36 now operating under the Jurys Inn brand, includes hotels under franchise agreements with Hilton Worldwide (one Hilton, three Doubletree by Hilton and one Hilton Garden Inn), AccorHotels (23 Mercure, three MGallery and one Ibis) and InterContinental Hotels Group (one Crowne Plaza).
Over the past 12 months, Amaris has spent around £100m rebranding and improving its portfolio, with around £45m on the capital gone on Jurys Inn.
The last set of complete financial figures, for 2015, saw revenue across Jury Inn increase by 9% to £193m, with EBITDA growing by 14% to £56.2m. Some 40% of the total profitability of Amaris is contributed by Jurys Inn.
"About two-thirds of the growth came from an increase in room rates, with the rest being due to a rise in occupancy, which now sits at above 80% for the core brand," explained Brennan, who attributes the improved performance to the growth in the provincial market combined the value proposition offered by Jurys.
"This year has continued to be another year of substantial growth for Jurys Inn, and looks set to continue into 2017," continued Brennan.
Expansion of the Jurys Inn brand will initially come via organic growth across the portfolio, with an additional 77 bedrooms opening at the Oxford hotel this month, with work starting in January on an 80-bedroom extension to the Belfast property.
Negotiations are also well advanced on the signing of two to three new build Jurys Inn across the UK.
Many of the hotels across the wider Amaris portfolio, which Brennan, said, had been "starved of CAPEX for many years", are now enjoying growth.
Jurys Inn, which is headed by managing director Jason Carruthers, comprises 31 hotels in Ireland, four in Ireland and one in Prague in the Czech Republic. All are owned on a freehold or long-leasehold basis, except for the Prague hotel which is a management contract.
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