FILED UNDER SOMETHINGISRAELI >> Business
Managed Hotels Unit Trust, an Israeli-backed property company owned by property magnate Yigal Ahuvi has emerged as the buyer of 15 Hilton Hotels in the UK for £382m.
The move follows parent company Ladbrokes selling off its non-core interests prior to its selling its Hilton Hotel chain to its previous parent the US-based Hilton Hotels Corporation.
Among the properties in the deal are hotels in Gatwick Airport and London Olympia.
In a separate deal, Managed Hotels Unit Trust also bought the Hilton hotel at Edinburgh Airport for £14.2m.
The hotels will remain as Hilton branded and Hilton will manage them for an initial term of 30 years
Ahuvi is also said to be offering investors a stake in his new company.
According to Israeli business magazine, further investors are set to join the consortium involved in the buy out including Israeli hotel operator Fattal Hotel Management and Africa-Israel, owned by Israeli billionaire Lev Leviev.