Tue, 24 May 2016 | DIVISION SALE
Iranian property tycoon Vincent Tchenguiz is to individually sell off 10 of the Hilton hotels he owns across the UK, reports The Times.
Mr Tchenguiz originally acquired the hotels from the Hilton Group back in 2002. The £335.7 million deal saw Hilton retain a 40 per cent stake in the hotels, which were leased back to the hotel group, but later sold the rest of its interest to Mr Tchenguiz in 2006. He now owns the hotels outright.
Nevertheless, the Hilton group still retains operational control of the hotels until 2029 under the terms of its deal with Mr Tchenguiz. So, any new buyers will need to collect rent from the Hilton Worldwide company.
The largest of the hotels being sold off is the 603-bedroom Kensington Hilton in West London. It is thought that the asking price will be as much as £300 million. Another £300 million will come from the sale of the other nine hotels: Cobham, Croydon, East Midlands Airport, Leeds, Northampton, Nottingham, Tewkesbury, Watford and York.
The total number of bedrooms on offer throughout the 10-property portfolio is 2,400. Against all 10 hotels is debt amounting to around £250 million.
For more information, find hotels for sale in the UK.
Very long established and profitable wholesale business. There is a healthy base of active repeat clients and the business has an excellent reputation. The location and premises suit the business perfectly with a small sales office, and a third party...
Extremely successful & exciting entertainment Business, the highest review rated of our kind in the World. Performing to over 600 events this year and growing you will find a fast growing business to take to an even higher level. Looking for somethi...
WEB-BASED
Long established motorcycle business. For over 25 years this highly regarded motorcycle training brand has offered training and testing services for motorcycles. The business is also a successful branded franchise dealer. They sell a well-known brand...
|
16
|
|
Sep
|
Cheshire-based SRL Traffic Systems completes MBO | MBO/MBI
SRL Traffic Systems, a manufacturer and supplier of portable...
|
13
|
|
Sep
|
AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE
AFH Financial Group, a listed wealth management firm headqua...
|
12
|
|
Sep
|
Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has succe...
Sign up to receive our acquisition alert emails to get your FREE guide
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