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Whitbread to sell off four-star hotels(11 March 2005 15:56)Speculation is growing that Whitbread will announce on Monday that it is to sell off all of its four- and five-star properties. The company has refused to deny that a deal is on the cards. Industry insiders had predicted that Whitbread would sell half of its £1.1b Marriott-branded bricks-and-mortar assets in a sale-and-manage-back deal. But a report in The Times today forecast that Whitbread might sell off the entire four- and five-star Marriott stock base outright – possibly to De Vere hotels – and return the funds to shareholders. A statement from Whitbread said: “The company confirms that it is currently in discussions which may or may not lead to the disposal of some or all of these hotel assets.” Article continues below
by Emily Manson
Source: CatererSearch |
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