Southern Pacific Hotels Corporation, a subsidiary of the British Bass Group, has bought Hale International for €207m (£128m), giving it control of a 59-strong hotel portfolio in the Asia-Pacific region.
The portfolio includes 24 hotels in Australia, 13 in New Zealand, 8 in the Pacific Islands and 14 in the rest of Asia. The deal is expected to boost profits immediately.
L’ AGEFI – L’ Agence Economique et Financiere, 18 January 2000, page 9
