In hotel news, Marathon Asset Management is to acquire a group of 11 UK hotels owned and operated by Queens Moat House hotels (QMH) for more than £130 million.
Offloaded by Goldman Sachs’ Whitehall Fund, the QMH hotels are now operated as Crowne Plaza or Holiday Inn brands under franchise agreements with InterContinental Hotels Group.
Queens Moat Houses, formerly one of the biggest names in UK hotels, was on the brink of collapse in 1993 as the result of an accounting scandal, that resulted in an 11-year inquiry by the Department of trade and Industry. The company has been continually staggered by a debt burden of nearly £1 billion initially.
Further details are not available.
