Three vie for £1bn hotel portfolio
Starwood Capital, Apollo and London & Regional are battling it out to buy a £1bn portfolio of Holiday Inn and Crowne Plaza hotels.
The portfolio, which is owned by LRG Acquisition – a consortium of Lehman Brothers, Realstar and GIC – comprises 19 Holiday Inns and three Crowne Plazas, totalling 5,943 bedrooms, with an annual turnover in excess of £200m. Trophy hotels include Holiday Inns at Kensington Forum, SW7, Bloomsbury, WC1, Regents Park, W1, London Mayfair, W1, and Heathrow. A preferred party is expected to be selected within two weeks.
amber.rolt@estatesgazette.com
Starwood Capital, Apollo and London & Regional are battling it out to buy a £1bn portfolio of Holiday Inn and Crowne Plaza hotels.
The portfolio, which is owned by LRG Acquisition – a consortium of Lehman Brothers, Realstar and GIC – comprises 19 Holiday Inns and three Crowne Plazas, totalling 5,943 bedrooms, with an annual turnover in excess of £200m. Trophy hotels include Holiday Inns at Kensington Forum, SW7, Bloomsbury, WC1, Regents Park, W1, London Mayfair, W1, and Heathrow. A preferred party is expected to be selected within two weeks.
amber.rolt@estatesgazette.com
