Lone Star, the global private equity giant, is to seeking to sell a portfolio of hotels comprising the Jurys Inn and Hilton brands for a fee understood to be more than £1 billion ($1.29 billion; €1.15 billion).
The portfolio of 42 hotels in major cities in the UK and Ireland forms part of Amaris Hospitality, the London-based hotel investment firm created by Lone Star in 2015 that currently manages 89 hotels.
Lone Star is understood to have approached Credit Suisse and Eastdil Secured to advise on the sale of the portfolio, which comprises six Hilton hotels and 36 Jurys Inns.
While a sale is thought to be Lone Star’s preferred option, it has considered an initial public offering. A source close to the firm also suggested it is willing to consider selling the two hotel brands separately.
A spokesman for Lone Star declined to comment.
Lone Star bought Jurys Inn for €900 million in 2015 before selling some of the assets and investing more than £100 million in the remaining properties. It acquired the chain of 31 hotels from a group of investors including the Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners.
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