EDINBURGH, SCOTLAND Royal Bank of Scotland Group Plc is in talks to buy more hotels and other retail properties as part of a plan to increase rental income from real estate, according to a recent Bloomberg report. Royal Bank may spend as much as $2.86 billion on hotels over the next three to five years it plans to buy and then lease the properties back to their managers. The bank is currently in talks with five hotels groups, according to the report.
Royal Bank will initially focus on transactions in the U.K. and then continental Europe as the company feels that the U.S. market is too crowded. (5/1/01)
SOURCE:Bloomberg