Buoyant Hotel Sector Attracts Investor
1 November 2006
THE ANNOUNCEMENT thatTonstate has bought two ofHilton’s largest hotels for£417 million is the latestchapter in the long-runningstory of the financial restructuringof the UK hotel industry.Hilton will retain longtermmanagement contractsto operate the hotels andproudly boast that its worldwideasset-sale programme has realised more than$2 billion since last year. Earlier this month, twogroups of property investorspurchased Menzies Hotelsfor £180 million. The Hiltondeal was therefore ...
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