Important! This article is written by orangesmile.com editors and is protected by copyright law. The article can only be re-used with a direct link to www.orangesmile.com

Big Sales of Hotels in the UK and Problems with a Hotel in Germany

Even though the UK and Germany are among the biggest and most popular tourist destinations in Europe, properties here are not sold equally well. Recent sales are the best proof for this.

It has been revealed that the Royal Bank of Scotland has sold Hilton Grosvenor hotel in Glasgow to an unknown investor. The total sum of the deal estimates US$16 million (around £10 million). The Royal Bank of Scotland has continuously sold 10 Hilton-branded properties. All hotels were bought back in 2001. Now only one hotel has remained in the property of the bank.

Another notable sale of a hotel in the UK is the deal with W Hotel in London Leicester Square. This property is about to be bought by a rich Qatari investor. The price for the 192-key accommodation may estimate around US$322 million.

Meanwhile German government is continuously pushing the sale of its infamous Grandhotel Petersberg hotel in Bonn. The five-star accommodation is located on a mountainside and features stunning panoramic views of Bonn, the former capital of West Germany.

This hotel was previously used by the government as a guesthouse. Later the government tried to sell the property (soon after the capital was brought back to Berlin), but achieved no success. Now the ministry of finances makes the second attempt. The hotel comes with a large 20-acre plot of land.

Previous article / Back to news index

Stay in touch with the latest news of a worldwide hotel industry. All up-to-date analytics, news, and reports about hotel business trends on OrangeSmile.com.