Macdonald has buyer for four more hotels
Hotel and pub company London & Edinburgh Inns is understood to be close to adding a further four Macdonald hotels to the two it bought from the Scottish group late last month.
London & Edinburgh is said to have just signed contracts to take over the 42-bedroom Chaucer hotel in Canterbury, Kent, the 63-bedroom Kingston Lodge hotel in Kingston upon Thames, and two other hotels in the Midlands.
The four hotels are part of a group of 15 that Macdonald put up for sale in October 2003.Buyers for most of the remaining hotels are said to have been found, and deals are expected to be completed soon. Most have been sold to local entrepreneurs, either in small packages or individually.
The hotels, which range in size from 26 to 108 bedrooms, are understood to have been sold for close to their guide prices, which range from £2m to £7m.Late last month Macdonald sold its 109-bedroom Waterside Inn in Peterhead, Aberdeenshire, and the 48-bedroom Thainstone House hotel in Inverurie, Aberdeenshire, to London & Edinburgh Inns in an off-market deal.
The hotels, which were not part of the group of 15, are understood have been sold for close to their book value.London & Edinburgh Inns has a portfolio of about 30 hotels and 600 pubs across the UK. Macdonald has more than 70 hotels across Britain.