Marriott sells 47 hotels to Irish investment group

16 April 2007 by
Marriott sells 47 hotels to Irish investment group

Marriott has sold 47 of its UK hotels to Irish investment group Quinlan Private and real estate investor Igal Ahouvi Group in a deal worth £1.1b.

The sale, handled by Royal Bank of Scotland, involves four and five-star properties in England, Scotland and Wales with approximately 8,500 rooms.

The hotels are currently operated by Marriott International, through its Marriott Hotels & Resorts brand, under the terms of 30-year management agreements which commenced in 2006.

Pauline Bradley, head of transactions at Quinlan Private, said: "This is one of the best hotel portfolios in terms of asset quality and geographic spread within the UK.

"It provides unparalleled diversification which will sustain strong cash flows and capital appreciation. We look forward to working with our partners and the Marriott team to enhance returns and deliver value for our investor group."

Quinlan Private is the single largest investor in the portfolio. Igal Ahouvi is investing on behalf of a consortium of international investors including Electra, First International Bank of Israel and Delek Real Estate.

Marriott to take part in Environmental Awareness Month >>

Marriott Hotels International signs Hospitality Graduate Recruitment to promote graduate programme >>

Tottenham Hotspur FC snubs Marriott West India Quay hotel >>

By Daniel Thomas

E-mail your comments to Daniel Thomas here.

The Caterer Blog]( Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking