UK: Private investment company London & Regional Properties (L&R) has acquired a £165 million stake in Premier Inn owner Whitbread.
L&R, which was founded by brothers Ian and Richard Livingstone, owns more than 100 hotels worldwide, including Cliveden House, Chewton Glen and 11 Cadogan Gardens in the UK.
The brothers acquired 3.5 per cent of FTSE 100-listed Whitbread in late September through L&R Ventures Limited, according to a stock market filing released this week.
Whitbread returned to profit in its most recent financial year, making £58 million compared with a £1 billion loss the year before. It operates more than 800 Premier Inn hotels in the UK – where it also owns the Beefeater and Thyme Bar & Grill brands – and dozens in Germany.