UK hotel owner and operator Fairview Hotels has acquired the 101-room Novotel Ipswich, the 98-room Novotel Coventry, the 132-room Novotel Wolverhampton, and the 119-room Novotel Manchester West from Land Securities for an undisclosed sum.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
