Delek Real Estate to acquire 47 U.K. hotels operated by Marriott
January 1st, 2007 Leave a comment Visited 78 times, 1 so far today
Delek Real Estate to acquire 47 U.K. hotels operated by Marriott
Israel based real estate company Delek Real Estate has confirmed that they are taking over operations of 47 U.K. hotels currently managed by Marriott International along with their partners.
They are purchasing these hotels from Royal Bank of Scotland and the deal is worth around USD 2.1 billion.
Delek would now purchase 17 percent stake in the hotels through its Delek-Belron International unit. In addition, their partners Electra Real Estate Ltd. will buy a 9.9 percent stake.
FIBI Holdings Ltd. is also likely to purchase a minor stake in the company. In addition, Dorea Investment & Developments Ltd. added that they would take a 3 percent stake in the deal.
These hotels have a combined capacity of 8,456 rooms and these would still be managed by Marriott under a 30-year agreement.
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