The listed Swedish hotel property company Pandox AB and the Fattal Group jointly acquire the Irish hotel chain Jurys Inn. The total portfolio comprises 36 hotels with 8,013 rooms as well as 294 meeting rooms, whereas Pandox retains 21 hotel properties and Fattal retains the operating platform for the 36 hotels. The purchase price amounts to about £800 million. The transaction is expected to be completed before the end of 2017.
Focusing on the UK and Ireland, the Jurys Inn hotels represent first-class locations in economically-strong and attractive destinations. Pandox and the Fattal Group are building on their already-successful partnership for this acquisition. The rapidly expanding Israeli hotel group will take over Jurys Inn hotels as an operating company, with the current highly-professional management team.
Anders Nissen, CEO of Pandox: “Pandox is delighted over the possibility to further develop the relationship with Fattal Hotels. Through the acquisition both Pandox and Fattal achieve a considerable market presence in the UK and the Republic of Ireland.”
David Fattal, CEO of Fattal Group: “We are proud to continue consolidating and developing our collaboration with Pandox, our strong expansion partner. The mutual trust we have built up over the last few years forms the basis for our success. For us, the acquisition of Jurys Inn hotels represents a huge step forward in our growth. With this, we have the opportunity to further expand and strengthen our expertise and brand awareness in Europe. We look forward to this new challenge.”
Daniel Roger, Managing Director of Leonardo Hotels Europe, adds: “Through this cooperation, we will push forward with our intensive expansion policy and broaden our portfolio in attractive destinations. This portfolio joins our 7 existing hotels in England & Scotland. I look forward to working with the highly competent Jurys Inn hotels team. I am convinced that our guests will be delighted by the extension of our offering.”