EDINBURGH, SCOTLAND Bank of Scotland, which has agreed to merge with Halifax Plc, will invest $71 million in its joint venture hotel operator City Inn Ltd. to build a hotel in Westminster, Central London, Bloomberg recently reported.
City Inn, in which the bank has a 50% stake, is building a 461-room hotel near the U.K. houses of Parliament. The closely held firm, which opened its first hotel in 1998, already operates in Glasgow, Birmingham and Bristol. (5/30/01)
SOURCE:Bloomberg