NEW YORK Bass and Marriott have emerged as the two hot favorites in pursuit of the Forte Hotel Group, according to HVS International. Granada has stated that its preference is to dispose of the hotel portfolio in one piece; as a result, alliances are forming between the major contenders in an effort to secure the successful fate of their bids.
Bass is believed to have entered into a formal partnership with Millennium & Copthorne to make a joint bid of #3.5 billion. Meanwhile, Marriott is expected to work in partnership with Whitbread to help secure its bid, although if it is successful it is unlikely to preserve the Le Meridien brand name. Nomura, the Japanese bank is also believed to be a contender. (1/19/01)
SOURCE:HVS International