A FRENCH property company is in talks over a deal to buy a 14-strong hotel portfolio which includes The Principal in York.
Discussions are ongoing between Foncière des Régions (FdR) and private equity firm Starwood Capital about the sale of 14 four and five-star hotels operating under the Harrogate headquartered Principal Hotels Company brand.
Starwood bought Principal Hayley for £360 million in 2013. Alongside The Principal York (formerly The Royal Hotel), the portfolio includes The Grand in Birmingham, The Met in Leeds and The Principal in Manchester.
FdR said that the deal, understood to be valued at around £750 million, could be finalised by the end of the first half of 2018.
FdR has property assets under management valued at €6 billion for a total of almost 500 hotels.
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