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Ogier advise on £680m Jurys Inn sale

Ogier advise on £680m Jurys Inn sale

Monday 02 February 2015

Ogier advise on £680m Jurys Inn sale

Monday 02 February 2015

Law firm Ogier has played a key role in the sale of one of Europe's leading city hotel groups.

It recently advised on the £680m sale of the Jurys Inn hotel group to US private equity firm Lone Star. Ogier acted for the seller, Jurys Inn Holdings Limited, which is owned by Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners following a major debt restructuring in 2013. The transaction, which must be approved by the Competition and Consumer Protection Commission in Ireland, is expected to close by the end of March.

Jurys Inn, which runs 31 hotels, employs 2,000 people and operates over 7,000 rooms, is expected to report record revenues and profits for 2014 and was named winner of the Best Small Hotel Company at the 2015 Business Travel Awards.

The Ogier team consisted of partner Nathan Powell, managing associate Richard Daggett and associate Amy Galley, who worked alongside English advisers Ashurst LLP.

Mr Powell said: "We have been acting as Jersey counsel to Jurys Inn since 2008, assisting with the restructuring and refinancing of the group, so we are delighted to have worked with them again in relation to the sale to Lone Star and wish them continued success under their new ownership."

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