Hilton in talks to sell LivingWell
US-based Hilton Hotels Corporation (HHC) is in talks to sell the LivingWell health club chain, which it acquired in February as part of its £3.3bn (US$3.5bn, 2.9bn euro) takeover of the Hilton Group.
According to The Times, Hilton has appointed corporate finance boutique McQueen to advise it on a strategic review of LivingWell, which is estimated to be worth more than £100m.
It is reported that the review was initiated following several unsolicited approaches for the chain, including one from LA Fitness.
LA fitness is believed to be one of two trade bidders shortlisted alongside a private equity firm and a company from outside the health club sector.
HHC is reviewing the 28 standalone LivingWell Premier Clubs, of which there are 25 in the UK and three in Australia. The review does not include the 76 LivingWell health clubs and gyms located within Hilton hotels.
In the event of a sale to a private equity firm, Hilton is expected to seek a franchise deal with the buyer to continue using the brand.
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