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Article: Regal Hotels in 120m pound bid for County
- Article from:
- The Scotsman
- Article date:
- January 5, 1999
CopyrightCopyright 1999 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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REGAL Hotels has confirmed it is in talks to buy County Hotels,
one of Britain's largest private chains, in a deal believed to be
worth about GBP 120 million.
County was involved in a GBP 91 million management buy-out in
March 1997 from Queens Moat Houses, but has since seen its flotation
ambitions thwarted. Its portfolio of 25 properties includes Burnham
Beeches, the occasional residence of the England football team - one
of three hotels with golf courses.
In contrast, Regal, based in Newbury, Berkshire, which is
regarded
as a niche operator running 91 three-star hotels throughout Britain,
has decided to expand aggressively since its attempts to go private
failed last October.
Any ...