£200m for Greenalls in De Vere sales
01 January 2000
Greenalls Group seems ready to sell off most of its De Vere Hotels in a move that could raise more than £200m.
The company is not commenting on rumours of a sale, but it is understood that more than half the chain's 20 UK properties could be up for sale.
Favourite to buy the group is US-based Renaissance Hotel Group, currently operating four Ramada hotels in the UK.
It is thought unlikely that Greenalls will sell its most profitable hotels, the Belfry in Wishaw, Warwickshire, or the Grand in Brighton.
Altogether, about a dozen UK hotels and all six US-based properties are understood to be on the market.
