LONDON Nomura s private equity arm bought Principal Hotels, a UK-based group of 17 hotels, in a move to step up its interest in the auction for the Forte hotel group put on the block by Granada Compass. Nomura Principal Finance Group paid $372 million for the 17-property portfolio and Hands has already appointed former Starwood executive Juergen Bartels to head the new acquisition.
Hands is also buying a four-star group with 14 hotels in the UK, two in Copenhagen and one in Amsterdam from private equity firms Bridgeport Capital and PPM Ventures. (1/26/01)
SOURCE:Reuters