Heeton, KSH and Lian Beng jointly acquire Holiday Inn hotel in Manchester

A TRIO of mainboard-listed firms - Heeton Holdings, KSH Holdings and Lian Beng Group - have acquired a hotel property in Manchester, they said in a joint Singapore Exchange filing on Monday.

The property was acquired through Prospere Hotels, a joint venture company which Heeton, KSH and Lian Beng have a 30, 30 and 40 per cent stake in, respectively. The financial details of the deal were not disclosed.

This is the fifth joint acquisition in the United Kingdom by the trio.

Managed by InterContinental Hotels Group under the Holiday Inn Express brand name, the 12-storey, 147-room hotel is situated in the city centre and "is targeted to attract both leisure travellers as well as business visitors", the three partners said.