A group of US investors have agreed a deal for the Jurys Inn hotel group.

The business has five hotels here in Ireland, 25 across the UK and one in Prague. The group employs some 2,000 people.

The deal - which is worth €909m - is subject to approval from the Competition and Consumer Protection Commission in Ireland.

Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners have agreed to the sale to an affiliate of Lone Star Funds.

The sale is expected to close by the end of this quarter.

The company has also recently acquired three existing leasehold properties.

The group says its current management team, led by CEO John Brennan, will stay in place.

Mr Brennan said: "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."