HK CTS Metropark Hotels Co Ltd is delighted to announce that through a wholly owned subsidiary company, it has purchased the entire issued share capital of Kew Green Hotels Ltd. Kew Green owns 44 UK hotels with 5,179 rooms and manages a further 10 UK hotels for other owners.
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 and the senior management of Kew Green Hotels has been retained to ensure the continued stewardship and growth of the business across the UK and into Europe.
This transaction ends Goldman Sachs’ and TPG Special Situations Partners’ association with Kew Green, which they acquired in 2013 and have helped grow into the largest Holiday Inn franchisee in Europe and one of the most respected owner operators in the market. Jefferies International and Macfarlanes acted for Goldman Sachs and TPG Special Situations Partners. DTZ and King & Wood Mallesons (HK and London) represented HK CTS.
Jeremy XU Muhan, Chairman of HK CTS Metropark Hotels said: “The purchase of Kew Green Hotels is a tremendous acquisition that provides us with a strategic growth platform within the UK and across Europe. Investing overseas will enable us to bridge Chinese tourism with the rest of the world. The acquisition of the first rate Kew Green Hotels business is the first step and it gives us this ability and provides a platform to grow from."
Paul Johnson, Chief Executive Officer of Kew Green added ‘We are delighted that HK CTS Metropark Hotels has chosen to invest in Kew Green. Their support will allow us to continue our aggressive growth strategy as well as giving us access into the rapidly growing Chinese tourist market.’
Jamie Lamb, Chief Financial Officer of Kew Green commented "We have greatly enjoyed working together with our current investors Goldman Sachs and TPG Special Situations Partners to create a market leading hotel company. We now look forward to a successful partnership and further expansion with HK CTS Metropark Hotels throughout the UK and Europe. This is an exciting opportunity for company and the management team at Kew Green Hotels."