East Midlands hotels sold out of administration as part of £246m deal
Hilton Hotels in Nottingham and at East Midlands Airport have been sold out of administration as part of a £246m deal.
The hotels were part of the remaining properties of the Zinc Hotels portfolio and have been bought by a number of special purpose vehicles controlled by Vivion Investments.
Property developer Vincent Tchenguiz’s Zinc Hotels snapped up the hotels in 2002 for £335.7m and leased them back to Hilton, which initially retained a 40% stake in the properties.
Then, in 2006, Hilton offloaded the rest of the intere... For the full story register now for free or login below...