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Heeton-led consortium picks up two UK hotels for undisclosed sum
A CONSORTIUM led by property developer Heeton Holdings has bought two hotels in the United Kingdom for an undisclosed sum, one of the consortium partners said in a Singapore Exchange filing on Friday.
In a joint statement issued by construction firm KSH Holdings, the consortium said that it had acquired a hotel in Bradford City called ibis Budget Bradford and another in Gloucester City called ibis Hotel Gloucester.
The consortium did not say how much it paid, and a spokesman for the consortium contacted by The Business Times declined to reveal the figures.
Apart from Heeton and KSH, the other two consortium partners were construction firm Lian Beng Group and ground engineering group Ryobi Kiso Holdings via its 75 per cent owned subsidiary Leeds Investment & Development.
Heeton holds an effective interest of 55 per cent in the consortium and KSH, Lian Beng and Leeds Investment & Development hold 15 per cent each.
The consortium said in its statement that ibis Budget Bradford was an 86-bedroom hotel close to the centre of Bradford, 11 miles (18 km) from the major metropolis of Leeds and 49 miles (79 km) from the City of Manchester, while ibis Hotel Gloucester has a total of 127 twin and double bedrooms in Gloucester City.
Both hotels are managed by international French hotel operator Accor, the consortium added, noting that the two were its third and fourth purchases in the UK.