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Hilton sells more hotels
Friday, 06 Dec, 2005
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Hilton has sold a further hotel and signed agreements to sell two others as it continues its strategy to offload UK properties.
Following the sale of 15 properties last month to The Managed House Unit Trust for £382 million, the company has now sold the Hilton Edinburgh Airport to the same buyer for £14.8 million.
Under the terms of the agreement it will retain the Hilton branding.
Hilton has also exchanged contracts with Capedell to take over the London Mews hotel – which has a gross asset value of £9 million – and signed heads of agreement to sell the Wembley Plaza for £10 million to property developer Quintain.
Hilton has already announced it is putting a further £400 million worth of hotels on the market.
Report by Steve Jones
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