Airport hotels change hands for £40m

02 December 2004 by
Airport hotels change hands for £40m

Airports operator BAA has sold two of its hotels for a combined £40.3m.

Its BAA Lynton commercial property development arm has sold the four-star, 500-bedroom Radisson SAS at Stansted airport to Airport Hotels Partnership (AHP) for £24m.

AHP is an equity firm set up specifically to invest in BAA airport hotels, and in which BAA Lynton has a 10% stake.

The 364-bedroom Jurys Inn Hotel at Heathrow has also been sold, to private company the Blair Group for £16.3m.

CB Richard Ellis Hotels was the agent behind both deals.

The change of ownership will not affect the operation of the two hotels.

by Nic Paton

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