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Israeli property company Delek to buy 47 RBS hotels

16 November 2006 by
Israeli property company Delek to buy 47 RBS hotels

Israeli property group Delek Real Estate is in talks to buy 47 Marriott hotel properties from the Royal Bank of Scotland (RBS).

The deal, which is in partnership with lawyer Egal Ahouvi and Irish property investor Quinlan Private, is worth about £1b.

RBS bought the hotels from Condor, an interim joint venture between Whitbread and Marriott, for £951.4m in April this year.

Condor was set up in March 2005 when Whitbread decided to exit the UK four-star market.

Whitbread to sell Marriot hotels >>Whitbread website >>

Marriot website >>

E-mail your comments to Tom Bill](mailto:tom.bill@rbi.co.uk?subject=Delek to buy 47 RBS hotels) here.

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