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JJW Hotels, a wholly owned subsidiary of MBI International, today (14 August) acquired UK boutique hotel company The Eton Collection for ”70m ($140m).
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.
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 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 hotel market,” said The Eton Collection managing director, Peter Tyrie.
The Eton Collection previously consisted of three London hotels ” Threadneedles in the City (pictured above), The Academy in Bloomsbury and The Colonade near Edgware Road ” as well as The Glasshouse in Edinburgh and Quebecs in Leeds.
Added to its UK portfolio from JJW”s Luxury Collection, is The Berners Hotel off London”s Oxford Street, which has been closed for two years of refurbishments and will re-open next year.
The Scotsman in Edinburgh and 42 The Calls, Leeds, are also to be re-branded as Eton Collection hotels, although these are owned by MBI and were not under the JJW Luxury Collection brand.
In Europe, The Eton Collection will consist of: Hotel de Vigny, Hotel Balza and La Tremoille in Paris; Grand Hotel Wien in Vienna; and The Pinheiros Altos Golf Resort in Portugal. There are two hotels, Royal Algarve Hotel & Spa and another property in Vienna, under construction that will also join The Eton Collection.
MBI International founder, chairman and CEO, Sheikh Mohamed bin Issa Al Jaber, commented on the reason for keeping The Eton Collection branding:
”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.”