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UK Businesses For SaleMUI may sell some of its UK hotels
08/08/2008
MUI, a listed business in Malaysia, is looking at selling of some of its poor-performing hotels located in the UK as the group continues to review its hotel business. MUI now runs 13 hotels - 11 in the UK and two in Malaysia.
The Corus hotel Hyde Park is not for sale though according to the company. MUI operates its hotels under the Corus brand. Trading conditions for hotels in the UK remain competitive, especially for provincial properties. Apart from the flag ship hotel in Hyde Park, other Corus hotels in the UK are: Burnham Beeches Hotel (Burnham/Windsor), The Chace Hotel (Coventry), Corus Hotel Solihull (Birmingham/Solihull), Corus hotel Elstree (Elstree), The St James Hotel (Grimsby), The Imperial Crown Hotel (Halifax), The Old Golf House Hotel (Huddersfield), Grosvenor House Hotel (Sheffield), The Hillcrest Hotel (Widnes), and The Belsfield Hotel (Windermere). No timeframe has been set for the sale and no particular hotel has been earmarked at this stage. MUI's hotel division recorded an overall operating profit of £6m, a significant increase of 302.7% over previously recorded profits in 2006, the group's 2007 annual report showed. The Corus hotel Hyde Park, the group's flagship hotel in the UK, achieved an 11% growth in revenue and 20% growth in trading profit. MUI has sold hotels before. During 2007, MUI disposed of two UK hotels. In 2006, MUI sold 19 hotels in the UK to Washington Hotels for £116m. 
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