Amaris Hospitality is believed to be considering selling off over one half of its portfolio of nearly 70 hotels, including the 36-strong Jurys Inn chain, for a rumoured £1b-plus.
Owned by American private equity company Lone Star Funds, Amaris has appointed Credit Suisse and Eastdil Secured to advise on the possible sale of Jurys Inn, alongside six hotels operating under three Hilton brands, including the Hilton Edinburgh Carlton, three Doubletree by Hiltons (Glasgow Central, Chelsea and Islington), and two Garden Inns (London Heathrow and Dublin Custom House), according to The Times.
Since 2015, Amaris has sold nearly all properties within the 21-strong, four-star Hotel Collection, except for the Billesley Manor hotel, near Stratford-upon-Avon, and Shrigley Hall, near Macclesfield.
It has also recently sold the White Horse hotel in Dorking, Surrey, to Bespoke Hotels. Under the ownership of Amaris, the White Horse operated under the Mercure brand.
If the sale of Jurys Inn and the Hilton hotels go ahead, Amaris will be left with 26 properties, all operating under franchise agreements with AccorHotels: 22 Mercure, three MGallery and one Ibis Styles.
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 Jurys Inn saw revenue across the brand increase by 9% to £193m in 2015, with EBITDA growing by 14% to £56.2m. Some 40% of the total profitability of Amaris is contributed by Jurys Inn.
Lone Star declined to comment.
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