HOTELS INFO and PHOTOS

  Four Seasons Hotel at Beverly Hills   LasVegas Hilton   Mandarin Oriental Miami Hotel   Sheraton New York Hotel

23 May 2006

Ex-Hilton chief plans 1 billion hotels fund

The former head of hotel chain Hilton Group is planning to raise about 1 billion pounds to invest in European hotel properties, newspapers said on Saturday.
David Michels, who stepped down as Hilton chief executive after the 3.3 billion pound sale of the company's hotels business to U.S. namesake Hilton Corp. (HLT.N: Quote, Profile, Research), has approached city institutions about the fundraising, The Times said.

It said he had appointed Citigroup as an adviser and planned to float the fund on the junior AIM market.

The Financial Times said Michels could create a multi-billion-pound European fund to rival successful U.S. hotel real estate funds.
If confirmed, the fund would provide further evidence of growing interest in hotels as an asset class.

Labels:

0 Comments:

Post a Comment

<< Home