Kew Green Hotels set for sale
Kew Green Hotels, owner and operator of 54 properties in the UK, is set to be sold, for a rumoured figure of around £400m.
A spokesperson for the company confirmed that Jefferies, the investment bank, has been hired "to review the strategic options" for the business, which is currently owned by TPG and Goldman Sachs.
If the group is not sold, the alternative options for the business could be an IPO or a refinancing deal.
Launched in 2001, Kew Green today is the largest franchisee of Holiday Inn hotels in Europe with 45 amongst its portfolio, 44 of which it owns. The company also operates hotels under five other brands: Holiday Inn Express, Crowne Plaza, Ramada Encore, Ramada and Courtyard by Marriott, as well as managing two independent hotels: the Richmond Hill in south west London and the Grand in Brighton, on behalf of owners, Wittington Investments.
TPG and Goldman Sachs took ownership of the group in 2012, following a debt-for-equity sway the previous year, which resulted in control being handed to Barclays and Lloyds Banking Group.
Chief executive of Kew Green is Paul Johnson, a founding director of the business.
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