Ian and Richard Livingstone the billionaire brothers behind investment firm London + Regional have taken a 3.5% stake in Whitbread worth £165 million.
The Livingstones bought their stake in the Premier Inn owner at the end of September through an entity called L&R Ventures Limited, according to a stock market announcement.
The brothers, through their L+R Hotels venture, already own a number of hospitality assets with approximately 23,300 bedrooms across the UK, Continental Europe, the US and the Caribbean. This includes the Iconic Luxury Hotels brand as well as Atlas Hotels.
There is no indication that the Livingstone brothers intend to buy the full company.