Search
 

Le Meridien to Revalue Hotel Portfolio

LONDON-Beleaguered hotel chain Le Meridien is to revalue its global portfolio. The move is thought to presage possible sell-off of properties in order to reduce the company's debt mountain.

By Anita Howarth | Updated on May 19, 2003

LONDON-Beleaguered hotel chain Le Meridien is to revalue its global portfolio ahead of a possible sell-off. The international hotel chain has appointed Atis Real Weatheralls and Insignia Hotels to carry out a full valuation of the company’s 51 hotels as part of a refinancing strategy.

Analysts estimate the current value of the business at £700 million ($1.1 billion) but the Le Meridien has estimated debts of £1 billion ($1.6 billion) compared with a purchase price in 2001 of £1.9 billion ($3.1billion).

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.