Hilton set for more sales
12 June 2002 by Ben Walker
Hilton is set to raise about £350m through the sale and leaseback of 10 of its hotels. The deal will include the Hilton London Kensington in Holland Park Avenue and nine provincial properties.
A Hilton spokesman said: "We are currently in negotiations with one party and will make an announcement in due course."
The buyer is understood to be property company Rotch, which has formed a joint venture with hotel investor and adviser Farnsworth.
Hilton announced in February that it planned to raise as much as £350m from another sale and leaseback deal, after its £312m disposal of 11 UK hotels to the Royal Bank of Scotland last year.
Source: Caterer & Hotelkeeper magazine, 13-19 June 2002
