Granada plans sale of hotels

 

THE Shelbourne Hotel in Dublin is to be sold by the Granada Group, either as part of the disposal of the worldwide chain of 86 Meridian hotels or as a prime "trophy" hotel on its own.

Moves to sell the Meridian chain taking in the Shelbourne, confirmed by Granada yesterday in comment on the progress of disposals following its £3.8 billion sterling takeover of the Forte group.

Granada hopes to degear its balance sheet through sale of the Meridian and Exclusive hotel chains.

Other Forte businesses including Post House hotels, Travelodge budget hotels and Little Chef and motorway restaurant businesses will be retained. Mr Charles Allen, chief executive of the Granada Group, said Lazards had been appointed to handle the disposals of the Meridian and Exclusive chains and indicated that some "trophy" asset sales may be sold separately.