A consortium made up of Singapore-based Heeton Holdings, KSH Holdings, Lian Beng Group and Ryobi Kiso Holdings have acquired the Ibis Budget Bradford and Ibis Hotel Gloucester in the UK for an undisclosed price.
Ibis Budget Bradford has 86 rooms and is close to Bradford’s center while Ibis Hotel Gloucester has 127 guestrooms in Gloucester City. AccorHotels manages both properties.
According to Deal Street Asia, Heeton holds 55 percent in the consortium while KSH, Lian Beng and Ryobi Kiso have 15 percent each. These deals mark the consortium's third and fourth ventures in the UK, following a maiden acquisition in Hammersmith, London in March 2015, as well as the acquisition of a mixed development site near Leeds City Centre in July 2015.