Mon, 28 Nov 2011 | BUSINESS SALE
Following the fall into administration of its owner, the offshore holding company Professional Ventures Corporation, the portfolio of 42 Marriott hotels is now proving popular with buyers.
Interested parties are reportedly keen to acquire the hotels, which were put up for sale by the Royal Bank of Scotland (RBS) following the administration in June of this year.
The first-round of bids for the commercial premises are due to be submitted by 15 December 2011, with particular interest tipped to come from investment giants such as Goldman Sachs, Blackstone and Starwood Capital. This Is Money has also reported that interest is expected from bidders across the Middle East and Asia.
The high level of interest in the hotel portfolio has been attributed to the well-known Marriott brand and the quality of the hotels, which includes the London-based Marriott County Hall.
Some of the other hotels within the portfolio include the Forest of Arden Country Club at Meriden – a leading tennis, golf and fitness venue - and The Birmingham Marriott Hotel at Hagley Road, Five Ways.
The latter – which was formerly known as The Swallow – was where former US President Bill Clinton stayed during his visit to Birmingham in 1998.
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