Macdonald Hotels Pursuing £250 Million Sale Leaseback of 23 Hotels

Times Online - July 31, 2006

Macdonald Hotels, the Scottish hotel operator backed by Bank of Scotland, will confirm today plans to raise more than £250 million by selling the property interest in 23 of its 69 hotels. The company, taken private three years ago in a £590 million deal, had been expected to sell 20 hotels worth £200 million through a sale and manage-back. However, its adviser, Deloitte, is understood to be marketing 23 properties, with a sale and leaseback now the likeliest method of disposal. Sphere: Related Content