Hotels up for sale as dispute between Hilton and property tycoon rumbles on

Ten hotels at the centre of a dispute between Hilton and property tycoon Vincent Tchenguiz are to be put up for sale again.

The string of hotels, which include sites in Leeds, York, East Midlands Airport, Northampton and Nottingham, have been put up for sale after administrator AlixPartners appointed JLL and Savills to find buyers, The Sunday Times reported.

The hotels, including the London flagship site in Kensington, were bought by Tchenguiz through a sale-and-leaseback deal in 2002. He became the landlord, and Hilton agreed to keep operating the hotels on leases until 2029.

The properties were put up for sale last year for around £600m but a sale never took place which led to the lenders putting the hotels into administration.

Tchenguiz has prepared a legal challenge against Hilton, City AM reported, accusing the company of frustrating the sales process in the hope of buying back the sites at a cut price.

TheBusinessDesk.com has contacted Hilton for comment.