Lehman Brothers to sell hotel shareholdings

Mon, 29 Jan 2007

Lehman Brothers, the US-based investment bank, is preparing to sell its shareholding in The Sanderson and St Martins Lane hotels. The two boutique hotels are valued at between £160m and £170m. However, joint owner Morgans Hotel Group is thought not to be interested in selling, and would want to keep its management contract if the hotels were sold.