JER Partners has launched a UK hotel platform with the acquisition of Morethanhotels, a manager and owner of a portfolio of 11 Express by Holiday Inn hotels, a limited service hotel brand from Intercontinental Hotel Group.
The company also owns two development sites within the Birmingham NEC hotel footprint, both of which have full planning permission. Once these developments are completed, the group will manage over 1450 rooms in the UK.
According to the firm, the acquisition will provide a platform for the creation of a larger portfolio of branded hotels in the UK over the next three to five years, through the development of new sites and the acquisition of existing hotels.
Malcolm Le May, president of JER Europe, said in a release: The UK limited service hotel market, which is currently fragmented and undersupplied, presents significant investment opportunities. The acquisition of Morethanhotels Ltd is an exciting first step, providing JER with economies of scale, credibility with franchisors when expanding and visibility to other potential vendors of sites or individual hotels.