RBS to sell its remaining six Hilton hotels

27 July 2010 by
RBS to sell its remaining six Hilton hotels

The Royal Bank of Scotland (RBS) is putting the six remaining Hilton Hotels it owns on the market, for a total asking price of £200m.

The portfolio includes the 181-bedroom Hilton Warwick, the 334-bedroom Hilton Brighton Metropole, the 170-bedroom Hilton St Anne's Manor in Bracknell, the 319-bedroom Hilton Glasgow (pictured), the 96-bedroom Hilton Glasgow Grosvenor and the 821-bedroom Hilton Manchester Airport.

CB Richard Ellis Hotels is handling the sale on behalf of RBS, which has already sold three other Hilton properties in the UK this year, for £40m.

RBS has recently sold the 1,019 Cumberland hotel in London, which is managed by Guoman Hotels, for around £215m and is believed to be close to finalising the sale of the nearby 494-bedroom Grosvenor House hotel in Park Lane, a JW Marriott hotel, for more than £500m.

The beleagured bank is currently attempting to sell all its non-core businesses in an attempt to return to profitability after losing £3.6b in 2009 and £24.3b in 2008.

Cumberland Hotel is sold for around £215m >>

Grosvenor House put on market for £600m >>

£10b takeover of Hilton Hotels >>

By Janet Harmer

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