Global real estate firm JER Partners has announced the acquisition of the Express by Holiday Inn Stevenage for an undisclosed sum. The 129-room hotel will become part of the Morethanhotels portfolio which the company purchased in October 2007. JER already operates 11 Express by Holiday Inn hotels in England. The acquisition of the Stevenage property brings the total number of rooms in the group's portfolio to 1,399. Debt was arranged by RBS and provided by Abbey and Allied Irish banks.
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