The Eton Collection, is to be acquired by JJW Luxury Collection (JJW) at a transaction value of £70m. The new company which will be owned by MBI International will be headed up by Peter Tyrie, as managing director. The move triples The Eton Collection’s** portfolio from five hotels in the UK to a total of 15 properties throughout Europe, including the flagship Threadneedles in the City of London (featured right).
Peter Tyrie will consolidate all the hotels into one high quality luxury boutique group. One of the most exciting additions to the portfolio is The Berners Hotel off Oxford Street which is currently closed and scheduled for redevelopment.
Other properties in UK will include: 42 The Calls, Leeds; The Scotsman, Edinburgh. Overseas properties will include Paris; Hotel de Vigny, Hotel Balzac and La Tremoille. In Vienna; the Grand Hotel Wien and Portugal; The Pinheiros Altos Golf Resort. There are a further two projects in development and plans are afoot to continue to grow the collection.
Peter Tyrie, Managing Director, The Eton Collection says, “This is a very exciting time for both companies. The agreement is mutually beneficial in that we have the opportunity to expand The Eton Collection outside the UK, whilst providing JJW with our knowledge and expertise in the luxury boutique hotel market. I am confident that we can make the enlarged business work even better for both parties. The enlarged group will be a perfect fit in that they share the characteristics that have been integral to the success of The Eton Collection portfolio to date.”
M.B.I. Al Jaber, founder, Chairman and CEO of JJW Hotels & Resorts comments: “JJW Hotels & Resorts is focusing its expansion at the luxury end of the hotel market and The Eton Collection has a well established position in this growing market sector. With hotels located in London, Edinburgh and Leeds, The Eton Collection fits well with our existing properties in the UK, providing excellent opportunities for cross marketing. We look forward to working with a strong and experienced management team who we are confidence will be able to drive our business forward.”