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Nomura submitted bid in auction

Horeca

Nomura’s Principal Finance Group has taken on one of the hotel industry’s most experienced executives to head up its bid in Granada Compass’s Pounds 3 billion Forte hotels auction.

Juergen Bartels, 60, the former chief executive of America’s Starwood Hotels & Resorts and for many years head of privately owned Carlson Hospitality, is understood to be overseeing the bid by Nomura as it battles against the likes of Bass and Orient-Express Hotels.

Nomura is thought to be among the front-runners in the auction, having submitted a bid for the Meridien and Posthouse chains as well as some of the London Signature hotels. But the list of contenders also includes Bear Stearns, the US investment bank, which is thought to be representing Mr Bartels’s former employer, Starwood.

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