Friendly plans to raise £5m
28 February 2000
Friendly Hotels is hoping to raise around £5m with the sale of some of its owned properties.
The group has put for sale signs over six of its Comfort Inn hotels and four Quality Hotels.
Managing director Peter Cashman said that the decision to dispose of the properties came after a review of its owned portfolio.
"We've never sold a hotel in the 14 years since the company started. We decided that a few don't fit," he said.
Cashman added that it was expected that the group would find buyers for only four or five properties and the capital raised will be spent improving the remaining hotels.
