Page last updated at 15:50 GMT, Sunday, 26 July 2009 16:50 UK

Hotel firm gets 60m for growth

Jurys Inn logo
Jurys Inn has already expanded this year

Hotel group Jury Inn has secured £60m in funding to support a further expansion of the business.

The firm, which has 23 hotels in the UK, is getting £15m each from major shareholders, Oman Investment Fund and property group Quinlan Private.

The remaining £30m is coming from an extension of its existing debt.

Jurys said it would look at new developments in key markets such as London. It has already opened five new hotels across the UK this year.

These were in Sheffield, Watford, Exeter, Swindon and Derby.

Another hotel is due to open in Aberdeen later this year, with more to follow next year in Portsmouth, Glasgow, Newcastle and Bradford.

Jurys' chief executive John Brennan said the new funding represented a vote of confidence in the firm and its growth plans in the face of challenging current trading.



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