UK hotel company Kew Green Hotels has been acquired by Chinese firm HK CTS Metropark Hotels.
Kew Green owns 44 UK hotels with 5,179 rooms and manages a further 10 UK properties for other owners, including the Grand in Brighton.
The deal follows Kew Green being established as the largest Holiday Inn franchisee in Europe.
Senior management is being retained with the intention of continuing to grow the business in the UK and throughout Europe.
The current portfolio provides HK CTS, a subsidiary of China National Travel Service, with national coverage with the franchised hotels spread evenly across the UK.
The transaction, for an undisclosed sum, ends Goldman Sachs’ and TPG Special Situations Partners’ association with Kew Green, which they acquired in 2013.
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.”
Kew Green chief executive, Paul Johnson, 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.”
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