Lone Star Weighs Up Jurys Inns Options
US-based Lone Star Funds is reportedly eyeing the possible sale of the Jurys Inns group.
Lone Star, which took control of the group earlier this year in a deal worth over €900 million, has appointed advisers to consider options for its entire UK hotels portfolio, according to Sky News, which names investment bank Rochschild as the advisors.
It's believed the strategic review of Lone Star's assets will be wide-ranging and could lead to the potential sale of the whole Jurys Inns group or just part of the group.
Jurys operates 31 hotels and employs over 2,000 staff. Along with five hotels in Ireland, it runs 25 based around the UK and one in Prague.
Lone Star has previously been busy in the Irish market already, acquiring sub-prime mortgage lender Start Mortgages last November. The firm typically take over distressed debt tied to property.