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Home » Granada Profits Up, Hotel Auction Enters Next Phase
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Granada Profits Up, Hotel Auction Enters Next Phase

By Hotel BusinessFebruary 28, 20011 Min Read
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LONDON Shares in Granada Compass rose on December 13 after the company reported a 2% rise in annual operating profits as it started its second round of hotel dispositions. The group said its multi-million dollar auction, which includes the luxury Le Meridien chain, entered into the next phase with a shortlist of bidders receiving more detailed company information. A sale is expected to close by the end of March 2001. Industry sources said the most likely candidates for the hotel auction are Bass, Marriott, Starwood and Nomura. (12/14/00) Source: REUTERS

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