Regal Hotel has formed a joint venture with Intermediate Capital Group to buy County Hotels for £42.5m plus the assumption of £73m debt. The purchase adds 25 properties to Regals portfolio, making a total of 117. Regal shares were unchanged at 31p.
References: Financial Times 12/01/99 page 24, The Daily Telegraph 12/01/99 page 22, The Times 12/01/99 page 27, The Independent 12/01/99 page 17 (Market Report)
