Macdonald Hotels is taking minority stakes in projects to build hotels to give it long-term management contracts.
It is upgrading existing properties to gain four-star ratings. It is spending £40-£50m on adding a potential 822 rooms to existing buildings over 3-5 years.
It is also considering bidding for some of the 13 hotels Hilton Group has put up for sale.
Financial Times 11/06/99 page 25
The Times 11/06/99 page 30
The Independent 11/06/99 page 25 (The Investment Column)
