Deals
Lone Star Said to Be Nearing Sale of $800 Million U.K. Hotels
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London & Regional Properties Ltd. is in talks to buy 47 U.K. hotels valued at more than 550 million pounds ($800 million) from Lone Star Funds, according to two people with knowledge of the discussions.
The London-based developer is the preferred bidder for the hotels, almost all of which are operated by Holiday Inn Express, the people said, asking not to be identified because an agreement hasn’t yet been reached. Another company may still beat L&R to buy the lodgings, one of the people said.