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Royal Bank of Scotland Sells Hilton Hotel in Glasgow

It has been recently announced that the Royal Bank of Scotland plans to dispose its “non-core” assets. Among them have been several hotels owned by the bank. Now the latest one, Hilton hotel in Glasgow City, is sold.

The five-star accommodation was sold to Topland Group for £35.7 million. This may be a good purchase as the property is profitable and very popular among both guests and visitors of this city. The 300-key accommodation is sold just two weeks after the sale of another hotel by Hilton – Hilton Grosvenor. The sale price of this property reached 10 million of pounds.

Both Hilton hotels were purchased by RBS in 2001 as a part of portfolio, the total cost of which estimated £312 million. The Royal Bank of Scotland has decided to sell some of its assets as a part of the recovery plan offered by the organization’s chief executive Stephen Hester. The bank started selling hotels in its ownership in 2009, reducing the value of the portfolio by as much as 145 million.

According to Clive Bush, the managing director of Topland, they are very pleased with the purchase. Hilton hotel in Glasgow is a well-run business with steady income, so this is a good investment that perfectly falls under the requirements of the company.

Hilton hotel in Glasgow has a long and respected history. Here stayed such popular personalities as the former president of the US Bill Clinton or a famous boxer Mike Tyson.

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