United Kingdom
United States
Asia Pacific
Hilton sells 15 hotels in £382m deal
Hilton has sold 15 UK hotels for almost £400 million and announced plans to offload a further 22, including the Hilton London Metropole and Hilton Birmingham Metropole
The properties have been sold to The Managed Hotels Unit Trust with Hilton in advanced talks to sell a 16th hotel, the Hilton at Edinburgh Airport, to the same buyer.
Proceeds from the sale will initially help pay down debt.
Under the terms of the deal, all will continue to be branded Hilton for at least 30 years. The managed contracts are expected to generate annual income of £5.4 million for Hilton.
The hotels have a 2005 EBIT of £27.7 million and a book value of £341.4 million.
The group said that following a “high level of market interest”, a further 22 properties, valued at £400 million, will be placed on the market – with the two Metropole properties among them.
The 15 properties sold are the Aberdeen Treetops, Basingstoke, Bristol, Bromsgrove, Coventry, Dartford Bridge, Dunkeld House, Gatwick Airport, London Olympia, Newbury Centre, Newbury North, Newport, Southampton, Strathclyde and Swindon.
Report by Steve Jones
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Gatwick braces for strike