News
Cavendish advises on the sale of The Eton Collection
30 August 2007Cavendish Corporate Finance has advised on the sale of The Eton Collection, the UK boutique hotel company, to hotel operator JJW Luxury Collection for £70m.
Under the agreement, JJW is to rename its Luxury Collection hotels under The Eton Collection brand, tripling the latter's portfolio and expanding it into Continental Europe. The new company, which under the ownership of JJW becomes part of global business group MBI International, will be headed up by The Eton Collection's Peter Tyrie, as managing director.
The Eton Collection previously consisted of three London hotels - Threadneedles in the City, The Academy in Bloomsbury and The Colonade near Edgware Road - as well as The Glasshouse in Edinburgh and Quebecs in Leeds.
JJW operates a range of one- to five-star properties in Europe and the Middle East, with the vast majority of its hotels in locations throughout France.
The deal will be mutually beneficial, giving The Eton Collection the opportunity to expand outside the UK whilst providing JJW with Eton's knowledge and expertise in the luxury boutique hotel market.
[Jonathan Buxton], head of the Cavendish Consumer Group commented:
''We are delighted that the Eton Collection has ended up in such sympathetic hands and wish Peter Tyrie and his team all the best for the future.''
Cavendish contacts for further information:
[Hugo Haddon-Grant] or [Jonathan Buxton]