UNITED KINGDOM Royal Bank of Scotland has sold four Hilton-branded hotels in the UK for more than £100 million.
The four hotels, which comprise 1,506 guestrooms, are Hilton Warwick/Stratford-on-Avon, Hilton Brighton Metropole in East Sussex, Hilton St Anne’s Manor in Bracknell and Hilton Manchester Airport. The hotels will continue to be flagged by Hilton under a lease that runs through 2021.
The buyer is private real estate firm Marcus Cooper Property Group in an all-equity transaction. The transaction includes 20 acres of land adjacent to Hilton Warwick that is zoned for residential development.
The hotels are part of 11 Hilton hotels originally acquired by RBS in 2001 for £312 million. That portfolio includes Hilton London Hyde Park, which was sold last year for £25 million. Only Hilton Glasgow and Hilton Glasgow Grosvenor remain in RBS’ portfolio.