
Abu Dhabi is reportedly now the preferred bidder for the 42 UK Marriott hotels, and is set to purchase the portfolio for £620 million.
Sovereign wealth fund Abu Dhabi Investment Authority has been named the preferred bidder for the portfolio of 42 Marriott hotels in the UK.The properties are currently under the possession of The Royal Bank of Scotland, following loan defaults by Quinlan Private and Delek Real Estate, who acquired the portfolio in 2007. Since it was put up for sale last year it has attracted a great deal of media attention. Other bidders included private equity giant Blackstone Group.The 42 hotel properties, scattered around England, Scotland and Wales, together comprise around 8,000 rooms. The deal is hoped to be completed by September.