Tchenguiz acquires Menzies Hotels for £180m
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
More News
Work is underway in Madrid on one of Europe’s most significant multi-functional complexes, combining sport, entertainment, culture and education.
The €800 ... More
Movie Park Germany has opened a new Paramount Pictures-themed attraction as part of its 30th anniversary celebrations, using immersive storytelling and adaptive reuse ... More
Efteling has opened Hooghmoed, a new family drop tower designed to broaden the appeal of its recently launched Sirene Island themed area and ... More
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers
