The group is in discussion with a view to obtaining a portfolio of hotels in the United Kingdom.
Foncière des Régions wishes to embark upon a project to acquire 4- and 5-star hotels with its subsidiary dedicated to the hotel business, Foncière des Murs.
The company is currently in discussions with Starwood Capital. Depending on its progress, the transaction could materialize at the end of the first half of 2018.
The properties operated under Principal Hotels Compagny brand, gather 2,626 rooms and are located in England (Birmingham, Leeds, Liverpool, London, Manchester, Oxford, Wotton, York), Scotland (Edinburgh, Glasgow) and one in Wales (Cardiff).
The subsidiary declares that it holds assets worth 6 billion (under management at the end of 2017) consisting of around 500 hotels and focuses its investments on large and dynamic European cities. At the beginning of 2017, Foncière des Régions demonstrated its ambition to expand in Europe with the acquisition of 19 hotels in Spain for 542 million euros.
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