Lloyds to sell its stake in George Hotel owner



LLOYDS Banking Group is in talks to sell its non-core 30 per cent stake in hotel and conference centre chain Principal Hayley, whose venues include the George Hotel in Edinburgh.
In part of a wider deal, the suitor for Principal Hayley is understood to be United States property investor Starwood Capital, with a mooted price of £400 million.
Starwood Capital is a separate business to Starwood Hotels & Resorts, which owns chains such as Sheraton, including the Sheraton Grand Hotel in Edinburgh.
Lloyds, as well as being a leading shareholder in Principal, is also the main lender to the... read more

 
17 December 2012 in Business, Views: 34
Source: Scotsman
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