Hilton Hotels completes Metropole sale deal

30 November 2006 by
Hilton Hotels completes Metropole sale deal

Hilton Hotels

The properties have been acquired by Dr Edward Wojakovski's family-owned Tonstate.

The Hilton London Metropole has 1,054 bedrooms and the Hilton Birmingham Metropole hotel 794.

Hilton will retain long-term management contracts on both hotels and Tonstate will continue to fund the renovation programmes currently being undertaken at both properties.

Hilton plans to put further properties on the market and is also "evaluating alternatives" for its northern European Scandic brand.

Hilton, which was advised by Christie & Co and SJ Berwin, will use the proceeds from the sale of these hotels to pay down debt.

Tonstate was advised by CBRE Hotels and DLA Piper.

Hilton's president of UK and Ireland to retire >>

Hilton Hotels Corporation sees turnover from internet bookings surge >>

Hilton sells Metropole sites >>

By Chris Druce

E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=Hilton Hotels completes Metropole sale deal) here.

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