LONDON— Queens Moat Houses has issued a statement denying newspaper reports that it is in talks with Hilton over the sale of its German hotels. A spokesman for Queens Moat said that the two companies are not talking‚ but declined to comment on whether or not Queens Moat was actually planning to dispose of its German hotel business, which is reportedly valued at approximately £250 million, (U.S.$354.9 million). Earlier this year Hilton paid £612 million, (U.S.$868.9 million) for the Scandic hotel chain, whose eight German Holiday Inn properties will be rebranded as Hilton hotels. Queens Moat has issued two profit warnings in the last four months, citing poor trading conditions brought about by the economic slowdown and the foot-and-mouth crisis.
Previous ArticleJameson Inns Reports 2Q Earnings
Next Article Analysts Debate The Pros And Cons Of Hotel Stocks