PROPERTY

COBURG FOR SALE

THE building society owner of the Coburg Hotel in Bayswater, London, which has been in receivership for more than a year, has placed the 132-bedroom hotel on the market.

Victoria Shriver of Richard Ellis, which is marketing the hotel, said a number of substantial hotel sales had been made in London recently and that the Coburg, like other similar properties, would probably go to a foreign buyer.

Resort Hotels has been operating the hotel under contract since October 1992 and would "be only too pleased to enter into discussions with any prospective purchaser", according to Roland Lewis, managing director ofResort.

TRAVEL INN BOOST

TraveL Inn is to open its 50th hotel in the UK, near Hemel Hempstead, Hertfordshire, later this month.

Unlike previous Travel Inns, which are usually adjacent to other Whitbread restaurant or pub brands, the new 60-bedroom hotel will have a restaurant and bar located within the main building.

LONRHO DEVALUES

LONRHO has devalued its Metropole hotel business by more than 50% on the figure put on the business two years ago when one third of the business was sold to the Libyan government.

Lonrho devalued the hotel group by £186m, just under the £177.5m stake taken in Metropole by the Libyan Arab Foreign Investment Company in March 1992.

ROMANS SOLD

THE Romans Hotel, Silchester, near Reading, has been sold to Nicholas and Maureen Tuthill.

The 25-bedroom Elizabethan-style country hotel was sold by the Riley family through Robert Barry & Co. A sale price was not disclosed.