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.
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