The agreement with Choice Hotels takes Jupiter’s portfolio of owned and managed properties up to 31 across the UK.
Jupiter Hotels will manage five of Choice Hotel’s East Anglian hotels - Quality Hotel Bury St Edmunds, Quality Hotel Colchester, Quality Hotel Peterborough and Quality Hotel Kings Lynn – all of which are three-star rated. The four-star, 76-bedroom Clarion Collection Hotel Cromwell Stevenage will also be managed by Jupiter Hotels - an indication of the business’ strategy to grow through winning management contracts.
“The addition of these five new hotels is a positive move for us, representing an increase of almost 20 per cent in the size of our portfolio and establishing us as a multi-brand leader in the midscale hotel segment,” said Shane Harris, chief executive of Jupiter Hotels.
“These management contracts enable us to establish a strong foothold in East Anglia, one of the UK’s fastest growing regional economies after London and the South East.
“We are committed to developing the Jupiter Hotels portfolio in the UK. Winning management contracts is a key part of our development strategy. We have a proven track record of successfully managing and operating hotels across the country and this expertise has been recognised by the parties who we’ve entered into agreements with.”
The new hotels
- Clarion Collection Hotel Stevenage - an attractive four-star hotel on the edge of Stevenage. The hotel, a converted farmhouse, was once the home of John Thurloe, secretary to Oliver Cromwell. The property features 76 bedrooms as well as six versatile air-conditioned function rooms, the largest of which has a capacity of up to 200 people.
- Quality Hotel Bury St Edmunds - a modern hotel located close to the historic old town of Bury St Edmunds, offering 71 bedrooms and five meetings rooms able to accommodate up to 100 guests.
- Quality Hotel Peterborough – featuring 70 bedrooms and five meeting rooms which can accommodate between ten and 80 people. The property is close to the picturesque Nene Park, where outdoor enthusiasts can enjoy open spaces and riverside walks.
- Quality Hotel Colchester – situated on the edge of Britain’s first Roman city, which offers a rich history and is easily accessible from London Liverpool Street station. The hotel features 50 bedrooms and four meeting spaces with a maximum capacity of up to 80 delegates.
- Quality Hotel King’s Lynn - benefits from 50 bedrooms and four meeting rooms able to accommodate up to 70 guests – all within a short distance of the North Norfolk coast.
Barinbrook Limited went into administration on 26 February, after changing its name from Akkeron Hotels. Zolfo Cooper partner Nick Cropper said: “We are delighted that a sale of these five hotels has been achieved and would like to thank the staff for their support and professionalism during this process."
Jupiter Hotels is a 50:50 joint venture between Patron Capital, the pan European institutional investor focused on property backed investments, and West Register, part of the Royal Bank of Scotland plc.