In May 2005, Whitbread sold its Marriott business into a joint venture company owned jointly by Whitbread and subsidiaries of Marriott International, with a management contract held by Marriott. In April of this year, the joint venture company was sold to the Royal Bank of Scotland, which is now in talks to sell it to Delek and its partners.
"The Marriott deal adds to the deal we did at the end of 2005, buying the Hilton hotel chain in Britain," says Ilik Rozansky, chief executive of Delek Real Estate, in a statement. The company currently holds 63 leading-brand hotels in Britain, he added.
"We see great potential in British tourism, in light of the country's strong economy, in light of the expected accelerated growth there before the 2012 Olympic Games in London," he says. The executive added that Delek Real Estate intends to continue to invest in the European hotel industry.
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