Singapore consortium grows UK hotel portfolio

Ibis

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.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Suggested Articles

The China-based conglomerate also acquired the iconic brand's IP assets as part of the £11 million deal, with the brand expected to live on online.

The sale is the latest step in Park's asset-light strategy.

As a rapidly rising hotel investment market, Italy is attracting interest from a range of companies—most recently, France's Covivio Hotels.