• Wednesday, June 12, 2024
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A&O and Ashurst win key roles on £680m Jurys Inn hotel chain sale

A&O and Ashurst win key roles on £680m Jurys Inn hotel chain sale

Allen & Overy (A&O), Ashurst, Dillon Eustace and William Fry have won key mandates advising on the £680m acquisition of the Jurys Inn hotel chain by US private equity group Lone Star.

The hotel chain is being sold by the consortium of investors that currently owns it, including Oman Investment Fund, Mount Kellett Capital Management, Westmont Hospitality Group and Avestus Capital Partners. The group underwent debt restructuring in 2013, at which point Ulster Bank, a subsidiary of Royal Bank of Scotland, also acquired a majority stake.

The Jurys Inn chain owns and operates a portfolio of 30 hotels in the UK and Ireland, as well as one hotel in Prague. The deal, which is set to close at the end of February, is subject to approval from the Competition and Consumer Protection Commission in Ireland.

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A&O acted for Lone Star Real Estate Fund III on the acquisition. The A&O team was led by corporate partner George Knighton with support from real estate finance partner Arthur Dyson on the debt finance aspects, pensions partner Däna Burstow and employment partner Sarah Henchoz.

Dillon Eustace partner David Lawless acted for Lone Star in relation to Irish law. Ashurst advised the shareholders and Jurys Inn holding company on behalf of the shareholders on the sale. The Ashurst team was led by corporate partner Rob Aird, and assisted by associate Claire Broom. With further advice from competition partner Duncan Liddell, assisted by senior associate Alexi Dimxitriou, and real estate counsel Jonathan Hoare. Environmental law consultant Andrew Waite also advised on the transaction.

William Fry partner Eavan Saunders Cole advised the shareholders of the Jurys Inn chain on the Irish law aspects of the deal. Channel Islands firm Ogier also acted for Jurys Inn Holdings, with partner Nathan Powell, managing associate Richard Daggett and associate Amy Galley advising on Jersey law issues.