Private investment company London & Regional Properties (L&R) has acquired a £165 million stake in Premier Inn owner Whitbread.
London & Regional Properties, 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 United Kingdom.
The private investment company acquired 3.5% of FTSE 100-listed Whitbread in late September through L&R Ventures Limited, which represents a £165 million stake.
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 United Kingdom and dozens in Germany. The group also owns the Beefeater and Thyme Bar & Grill brands.