Investors in Thistle Hotels will have to take what comfort they can from the prospect that an international chain might make an offer for its central London properties, says the Financial Times.
The company has shocked shareholders by failing to return cash to them generated from the recent sale of 37 hotels
It has instead invested the proceeds of the £598.6m sale in short-term money market deposits. It did not rule out making acquisitions with the proceeds.
It also did not rule out a sale and leaseback of some of its biggest London hotels although this was not under consideration.
Financial Times 04/09/02 page 22, page 44 (Companies Report)
The Times 04/09/02 page 24 (Need to know), page 26 (Tempus), page 28
The Daily Telegraph 04/09/02 page 32
The Independent 04/09/02 page 20 (Market Movers), page 21 (The Investment Column)
