After Britain's first hotel REIT (real estate investment trust) failed to get of the ground the Caterer Blog can exclusivley reveal that Michels is still on the prowl for investors.
Speaking at today's British Hospitality Association Centenary Luncheon, Michels entered into the after-dinner speaking with gusto - announcing that there would be an auction with a starting price of £2b for a company called Vector.
I'm afraid to say that there were no takers at that price....