Four-star acquisition for Thai hotels group

A THAI hotels group has bought up the Mercure Sheffield Parkway Hotel as part of a portfolio worth an estimated £12m.

The group of three hotels, which include sites in Dumfries and Darlington, has been bought by Jupiter Hotels.

The acquisition brings its collection up to 29 hotels in the UK.

The Holiday Inn Darlington and Holiday Inn Dumfries, along with Sheffield Parkway will remain under their respective brands.

The Mercure is a four-star hotel, with 78 bedrooms, located four miles from the city centre. It has eatery The Foundry Restaurant & Bar and meeting and event spaces which can cater up to 150 guests.

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 10% 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 owner’s vision for the company and we look forward to continuing to propel the business to new heights through further capital investment and portfolio expansion.”

In October 2015, Jupiter Hotels were acquired by the joint venture between Thailand’s Singha Estate, a public real estate company, and FICO Holding, a subsidiary of FICO Group also based in Thailand.

Jupiter Hotels is aiming to double their portfolio of hotels within a two-year period.