Pret founder sells hotel

The founder of UK sandwich chain Pret a Manger, Sinclair Beecham, has sold his latest venture, the ‘upmarket budget’ hotel The Hoxton, generating a 3.33x return for his venture backers Hotbed and Bridges Community Ventures.

Hotbed, the private investor syndicated, invested £1.55m in 2004 as part of a £18.4m deal.