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Hilton to sell 18 more UK hotels
Hilton Group has today (1 July) announced that it is to put 18 of its UK hotels up for sale, with the aim of raising more than £400m while retaining as many management contracts as possible.
According to the Financial Times, the group has appointed property agent and consultant CB Richard Ellis Hotels to manage the disposal – which includes the Hilton London Olympia, Hilton Edinburgh Airport and Hilton Belfast – and will test the market in the next few days.
Hilton is hoping to return a substantial amount of the proceeds to shareholders.
The disposal forms a continuation of a £400m sale of assets, which was announced in February.
In March, Hilton sold 11 of its UK hotels – including the Edinburgh Grosvenor and the Hilton London Mews – to US-based property group Starwood Capital for £111m. Details: www.hiltongroup.com
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