Friday, March 10, 2006

Whitbread May Sell & Leaseback £1 Billion Portfolio of 46 Marriott Hotels in UK

Freeman News / AFX - March 08, 2006

The Financial Times reports that Royal Bank of Scotland Group plc is in exclusive talks with a Whitbread plc and Marriott International joint venture about buying a portfolio of 46 UK hotels for £1bn.

The hotels are currently owned by Whitbread but are operated by Marriott, the US hotel chain, which will continue to run the properties after the deal has closed, the newspaper said. It noted that RBS, which declined to comment, has a record in hotel ownership having owned Le Meridien's UK assets for several years.

The FT said RBS is also believed to be working with Egal Ahouvi, the Israeli entrepreneur, on the possible purchase of seven InterContinental Hotels Group plc properties. Sphere: Related Content

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