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.
Opportunity to acquire a discretionary investment managing £45m of clients funds with recurring income of £500,000.
Opportunity to acquire an established IFA business circa £42m AUM located in Glasgow with room for further growth.
Newcastle based IFA offered for sale, the practice benefits from low ongoing advisor charge of 0.6% providing room for potential uplift maximising profits post acquisition.
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.