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Macdonald Hotels sells 24 properties for £400m

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Macdonald Hotels has sold 24 of its UK properties to Moorfield Real Estate Fund for more than £400m.

Macdonald will continue to manage the hotels under a short term management agreement, but will have to bid against two other international companies for the long term contracts.

Executive chair Donald Macdonald said: “This is a significant transaction for us and one we planned to execute when we took the company off the London Stock Exchange and back into private ownership three and a half years ago.”

The hotels are based across the country including the Holland House Hotel in Cardiff, the Ardoe House Hotel in Aberdeen and the White Hart Hotel in Bristol. Details: www.macdonaldhotels.co.uk

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Macdonald Hotels has sold 24 of its UK properties to Moorfield Real Estate Fund for more than £400m.
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