A HOTEL group with a Bradford property is being sold to US investors in a £680 million deal.

The Jurys Inn group, which opened a £20 million hotel in the city in 2010, creating 70 jobs, is being bought by Lone Star Funds with Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners.

The business, which has 25 UK hotels, five in Ireland and one in Prague, has been sold by a group of investors less than two years after restructuring its debt.

The company said its business had been outperforming its competitors in the UK and Ireland, and the existing management team, led by chief executive John Brennan, will stay in place.

Mr Brennan said: “I would like to thank our existing shareholders for their commitment and support and welcome Lone Star Funds as our new owners.

"The substantial investment in our business and brand, coupled with the efforts of management and our employees, have allowed us to deliver record results in recent years.

“We are now delighted to have attracted a new owner of the scale and calibre of Lone Star Funds, who are very committed to the future growth and development of the Jurys Inn brand and business and we look forward to working with them in realising our joint ambition for the business and to capitalise on the significant opportunities emerging within our sector.”

The transaction is subject to approval from the Competition and Consumer Protection Commission in Ireland, and is expected to close by the end of March.