Hilton to sell 9 U.K. hotels to Norwich

Article Abstract:

Hilton Group PLC announced that it will sell nine hotels in the UK to Norwich Union PLC for 68.6 million pound sterling (104 million euros). Norwich is an insurance and financial group based in the UK. Hilton Group is the owner and operator of non-US Hilton hotels. The transaction is scheduled to be completed within a six-week period. The move is an attempt by Hilton Group to sell of its British portfolio before going ahead with expansion overseas.

Comment:

Hilton Group to sell nine hotels in UK to Norwich Union for 68.6 million pound sterling (104 million euros)

Insurance, Insurance Carriers and Related Activities, Facilities & equipment, Insurance industry, Abstract, Norwich Union PLC

Marriott withdraws bid to acquire Le Meridien hotels

Article Abstract:

Marriott International Inc. has given up its efforts to acquire Compass Group PLC's Le Meridien hotel chain. Marriott's move represents an effective concession to rival bidder Nomura International.

United States, Marriott International Inc., MAR, Compass Group PLC, Le Meridian Hotel, Nomura International PLC

Hilton Group offer to buy Scandic

Article Abstract:

Hilton Group PLC has made an unexpected offer to acquire Scandic Hotels AB. The offer is valued at 8.9 billion kroner (978.5 million euros).

Sweden, Scandic Hotel AB