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Brentwood School Sports Centre
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Tchenguiz acquires Menzies Hotels for £180m
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Brentwood School Sports Centre
£32,000 - £34,000pa + pension + benefits
location: Brentwood, Essex, United Kingdom
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Robert Tchenguiz, the Iranian entrepreneur, has teamed up with property investor aAim to acquire Menzies Hotels for £180m.
Tchenguiz’s R20 investment vehicle and aAim formed a joint venture partnership, called Piccadilly Hotels, to buy the four-star hotel chain from Nikko Principal Investments (NIPL), the European finance arm of Nikko Cordial Corporation.
Brian Berry, NIPL chief executive, said: “We have been very pleased with our involvement in Menzies. We wish aAim and R20 continued good fortune as they develop and expand it in the future.”
According to The Times, Piccadilly Hotels has earmarked a further £180m to double the size of the company.
Menzies – which has 16 UK hotels in its portfolio – was founded by Nick Menzies, former chief executive of Thistle Hotels, in 1992. Details: www.npil.co.uk
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Robert Tchenguiz, the Iranian entrepreneur, has teamed up with property investor aAim to acquire Menzies Hotels for £180m.
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