Plans to float a firm owning 60 to 80 UK hotel properties worth up to £2.5 bn (EUR 3.6 bn) on the London stock exchange are to be announced this month, a source close to the process told news agency Reuters. The source said a company backed by the Royal Bank of Scotland and property tycoon Richard Balfour-Lynn would offer a significant stake in an initial public offering to subsequently convert into a real estate investment trust (REIT).
Premium subscriber content – please log in to read more or take a free trial.
