Hilton Group has reportedly put a further 12 hotels up for sale, following the offloading of 11 British properties to a joint venture led by Starwood Capital.

According to The Times, the sale is worth £300m and includes the Hilton London Olympia. The move is part of a planned £400m sale of assets announced in February which will see the company move towards managing hotels under contract rather than ownership.

Last week, the company announced a 4 per cent decline in profits for the first four months of the year, hit by a poor performance in its gaming division.