Foncière des Régions has confirmed that its subsidiary Foncière des Murs is currently in exclusive negotiations to acquire a portfolio of fourteen 4- and 5-star hotels in major cities across the UK from Starwood Capital. This portfolio, including a project currently under development, operates under the name of Principal Hotels Company.
Of the fourteen hotels, compromising a total of 2,626 rooms, nine are located in England (Birmingham, Leeds, Liverpool, London, Manchester, Oxford, Wotton and York), four in Scotland (Edinburgh, Glasgow), and one in Wales (Cardiff). Depending on how quickly discussions move forward, the transaction could be finalised by the end of the first half of 2018.
Foncière des Régions, a leading hotel investor in Europe with property assets under management valued at €6bn for a total of almost 500 hotels. With the capacity to support partners for sale & leaseback transactions, acquisitions or developments for buildings and buildings plus business, Foncière des Régions concentrates investments on Europe's most dynamic cities each attracting over 2 million stop-overs a year.