The move will bring the company’s UK portfolio up to 29 properties, and completes the announcement that the trio of hotels was sold pff a guide price of £12m by the Dominvs Group to Asian company the Fico Group by agents JLL and Christie + Co earlier this month. Jupiter Hotels is a joint venture between part of Fico Holding, itself a Thailand-based subsidiary of the Fico Group.
The Mercure Sheffield Parkway is a four-star, 84-bedroom property and brings the total of Jupiter’s Mercure-branded properties up to 27 in the UK.
All three new hotels will retain their current brands, and trade as part of Jupiter Hotels with immediate effect.
The acquisitions are part of Jupiter Hotels’ plans to continue expansion across the UK.
Chief executive of Jupiter Hotels Shane Harris said: “The purchase of these three new hotels is a very positive move for us, representing an increase of over ten per cent in the size of our portfolio and establishing us once again as a multi brand leader in the midscale hotel segment.
“The recent acquisition provides an accurate prediction of what’s to come over the next few years as we continue to invest in strengthening and growing our portfolio. We are well positioned for future growth which is in keeping with the owners’ vision for the company.”