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DSH remains hungry for more London hotels

30 September 2005

Dawnay Shore Hotel (DSH) backer the Hotel Corporation has said it remains hungry for more hotel properties, especially in London.

Barclay Douglas chairman of the company, which owns 49.9% of DSH, said: "We are still acquisitive and are looking at a number of options in London and other regions.

Douglas reiterated the company's plan to acquire 4,000 rooms over five years for DSH.

The Hotel Corporation made profit of £9.3m for the six months to 30 June.

DSH's results - announced separately - valued its portfolio of 17 four-star regional UK hotels at £314.3m.

Its turnover for the six months ended 3 July was £40.4m, up 2.5% year-on-year with operating profit of £14.2m (2004: £14m).

Taking into account interest on debts and other costs, the net loss before tax for the period was £3.9m.

By Chris Druce

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