Chinese investors HK CTS Metropark Hotels has agreed to buy UK hotel chain Kew Green, which operates 44 properties across the country, in a deal understood to be worth more than £400 million.The move ends previous owners Goldman Sachs and TPG Special Situations Partners’ relationship with Kew Green, which started in 2013.
The group owns 44 UK hotels and manages a further ten, more than 40 of which are under the Holiday Inn or Holiday Inn Express brands. Other properties under the Ramada and Crowne Plaza brands are also in its portfolio. HK CTS Metropark is a part of China National Travel Service Group of Hong Kong and operates hotels throughout China, Hong Kong and Macau.
The senior management has been retained with the intention of continuing to grow the business in the UK and throughout Europe. The current portfolio provides HK CTS with national coverage with the franchised hotels spread evenly across the UK. The relationship with the existing franchise partners will remain unchanged.
Furthermore, the acquisition of Kew Green Hotels by HK CTS Metropark does not affect the ownership or operation of the iconic Grand Brighton hotel. The Grand Brighton is owned by Wittington Investments and will continue to be managed by Kew Green as before.
Kew Green properties include the Crowne Plaza Liverpool JLA, Ramada Encore Barnsley and Ramada Encore Birmingham NEC – however the Grand Brighton (bottom right) will still be owned by Wittington Investments and managed by Kew Green