LONDON Jarvis Hotels Ltd., which owns and operates more than 40 hotels in the United Kingdom under the Ramada flag, may soon be taken over by Royal Bank of Scotland Group PLC.
RBS, a main lender to Jarvis, has made little progress in finding a bidder for the private company. Jarvis, which breached its banking covenant several years ago, has held talks with Akkeron Hotels and Benson Elliott Capital Management, although no deal seems imminent.
Dow Jones Newswires reports that RBS is considering taking full control of the company, but that it is just one of several options being considered and that it is not the bank’s preferred strategy.
RBS is 83% owned by the UK government.