Private equity fund Permira has returned to the hotel sector less than a month after selling the Travelodge chain, with the acquisition of Principal Hotels from RBS.
Neither party released any financial information about the transaction but Permira it thought to have paid around £300m for the six hotels in the chain.
References: Financial Times 09/09/06 page 16, Daily Telegraph 09/09/06 page 25, The Times 09/09/06 page 67
