Israeli investors buy Marriott hotels from RBS

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Nicholas Pettifer

NEWS ANALYSIS - MAY 02, 2007

A syndicate of Israeli private equity firms have acquired 47 Marriott hotels from the Royal Bank of Scotland (RBS) for $2.19 billion.

The syndicate was led by Igal Ahouvi of Blenheim Property and included Delek, Electra, Fibi and Quinlan among others.

The hotels, including the County Hall hotel in London, will remain under the management of Marriott and are all located in England and Scotland.

Blenheim Property was advised by Lawrence Graham whose team was led by banking and real estate finance partner Nick Turner and corporate partner Richard Elphick.

Tids Murray, Harneys and Elvinger Hoss & Prussen acted for Blenheim Property in Scotland, the British Virgin Islands and Luxembourg respectively.

RBS hired CMS Cameron McKenna regarding the sale of the hotels and Allen & Overy for the debt funding.

Tags: Private equity