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Macdonald Hotels hunting for London property

06 June 2008 by
Macdonald Hotels hunting for London property

Macdonald Hotels is looking to expand its presence in London, Caterersearch has learnt.

David Guile, chief executive of the Scottish hotel group, said the company planned to make the most of any fall in property prices in the capital due to the credit crunch.

Guile said: "We're in some negotiations at the moment, it's still in the early stages but we are looking for more properties.

"We're interested in London but so far the timing hasn't been right, especially last year. But now with the credit crunch and property prices falling we're looking for any opportunities that come up there in the coming months."

The group currently has a sales and marketing alliance with the Royal Garden Hotel in Kensington.

Macdonald Hotels recently sold 24 of its properties to hotels to Moorfield Real Estate Fund for more than £400m.

The sale has provided cash to further establish a solid footing in the four- and five-star markets, with £50m being spent on development.

Macdonald currently runs 46 hotels and has three management contracts.

Macdonald Hotels names David Guile as new chief executive >>

Macdonald Hotels Aviemore redevelopment on track >>

Independent ditches Macdonald Hotels to go it alone >>

Donald Macdonald on returning to private ownership >>

Investment now paying off, says Macdonald Hotels boss >>

By Gemma Sharkey

E-mail your comments to Gemma Sharkey here.

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