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Hilton to sell 18 more UK hotels
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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
Hilton Group has 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.
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