RBS becomes front-runner in £400m Hilton deal
The Royal Bank of Scotland (RBS) has emerged as a front-runner in Hilton Group’s auction of the 18 hotels put up for sale in July for around £400m.
According to The Times newspaper, RBS is understood to have been shortlisted alongside three other principal bidders, including Host Marriott, the US property group spin-off from Marriott International.
CB Richard Ellis Hotels is managing the sale of the hotels, which are all in the UK and Republic of Ireland, and include the Hilton London Olympia, Hilton Edinburgh Airport and Hilton Belfast properties.
Hilton is hoping to return a substantial amount of the sale proceeds to shareholders while the disposal forms a continuation of a £400m sale of assets.
In March, Hilton sold 11 of its UK hotels, including the Edinburgh Grosvenor, to US group Starwood Capital for £111m. Details: www.hiltongroup.com
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