High demand is expected for the £800m portfolio of hotel and leisure properties put on the market this week by Whitbread.
Mark Wynne-Smith, managing director of Jones Lang LaSalle Hotels, said “the sale will succeed at that price”. Irish syndicates, and US property REITS such as Host Marriott were all likely to show interest in the sites, he said.
CBRE Hotels and Morgan Stanley have been appointed to handle the sale of up to half of Whitbread’s portfolio, which includes the four-star Marriott hotel chain, the Chiswell Street Brewery, its German hotel and restaurants, and UK pubs.
But a deal on around 24 Marriott hotels could prove tricky, said Wynne-Smith, as Whitbread does not own the Marriott brand.
References: EGi News 29/10/04
