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RBS sells four Hilton hotels
By Martin Nash
RBS sells four Hilton hotels
Cowell Group Investors (CGI) has bought four Hilton hotels from the Royal Bank of Scotland for £130m.
The hotels are all being sold as part of RBS's portfolio of six Hilton properties and include the 181-room Hilton Warwick/Stratford-on-Avon; the 334-room Hilton Brighton Metropole; the 170-room Hilton St Anne's Manor in Bracknell, Surrey; and the 821-room Hilton Manchester Airport. All four are let to Hilton until 2021 and originally formed part of a group of 11 Hilton hotels that RBS bought for £312m in March 2001.
CB Richard Ellis Hotels was instructed to sell the final six in August 2010 and only the 319-bedroom Hilton Glasgow and the 96-bedroom Hilton Glasgow Grosvenor are yet to be sold. The sales follow the disposal by RBS last month for £470m of the iconic Grosvenor House hotel in London's Mayfair to India-based conglomerate Sahara India Pariwar.
CGI is run by Nicholas Cowell, younger brother of 'X Factor' judge, Simon Cowell.
Cowell Group Investors (CGI) has bought four Hilton hotels from the Royal Bank of Scotland for £130m.
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