Thai investor buys U.K. hotels for £160m
Thailand-based Singha Estate and its partner Fico Corp. have purchased a 3,054-room U.K. hotel portfolio from Royal Bank of Scotland and Patron Capital. The sales price is approximately £160 million ($244 million).
The Jupiter Hotel Portfolio includes 26 properties across Scotland and England operating under French hotelier Accor’s Mercure franchise. Jupiter also manages a further five hotels, branded Dragonfly Hotels, and one independent hotel, the Talbot Inn in Ripley, England.
The 218-room Mercure London Watford Hotel in Watford, England, had the highest price, selling for $39.2 million. And the largest asset is the 250-room Mercure Leicester City in Leicester, England, which sold for $10.4 million.
Singha Estate is the property arm of Thailand’s Boon Rawd Brewery Co., and its partner is a subsidiary of FICO Group, another Thai company.
Earlier this year, Singha Estate