THE Jurys Inn group - which has a hotel in Swindon - has been sold to US investors for £680m.

The group has four London hotels and 21 more across the UK, including the one in Fleming Way, five in Ireland and one in Prague.

Its sale comes less than two years after investors restructured the firm’s debt.

Lone Star Funds has agreed to buy the chain with Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners.

Jurys Inn employs about 2,000 people and operates 7,000 rooms.

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

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

"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."

Hassan Al Nabhani, chief executive of Oman Investment Fund, said debt restructuring was key to the improved returns in recent years.

"Jurys Inn is one of OIF's earliest investments. The capital restructuring undertaken in May 2013, with the co-operation of the lenders and our partners, revived the group paving a new path of growth and progress," he said.

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.