Bloomberg News

RBS Seen Picking Abu Dhabi to Buy 42 Hotels, Property Week Says

August 16, 2012

Royal Bank of Scotland Group Plc (RBS) chose the Abu Dhabi Investment Authority as the preferred bidder for 42 hotels it owns following loan defaults, Property Week reported, without saying where it obtained the information.

The sovereign-wealth fund offered 620 million pounds ($973 million) for the hotels operated by Marriott, the publication said on its website today.

RBS and the fund didn’t immediately return calls seeking comment on the report.

To contact the reporter on this story: Simon Packard in London at packard@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net


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