| Location |  |
|---|---|
| Date of investment | Nov 1998 |
| Activity | Town house hotel chain |
| Investment Size | €48.5m |
| Type/stage | MBO / Roll-out |
| Revenues | €18.0m |
| Transaction Size | €77.0m |
| Milestone Board Members | |
| Date of realisation | Aug 2007 |
| Further information |  |
The Business
The Eton Group was formed to develop a small chain of branded, four to five star, 40-60 bedroom town house hotels, aimed largely at the discerning corporate traveller. Market analysis suggested that this niche was likely to be one of the most attractive in the hotel sector, offering significant growth.
The Management
The chief executive, Peter Tyrie, was an experienced hotel executive with a track record of achievement. He was primarily responsible for site finding and development and the operational side of the business.
Strategic Development
The plan was to develop a small chain through both conversion of residential and office properties and upgrading of existing hotels. At exit, the company had grown to have five operating hotels, three in London including a flagship site in Threadneedle Street (City of London) and further hotels in Leeds and Edinburgh. Exit was achieved through a secondary MBI in 2007.