Land Securities buys Accor hotel portfolio

UK property firm Land Securities has said its property partnership business Land Securities Trillium (LST) has acquired a portfolio of hotels from the world's fourth-largest hotel operator Accor as part of a sale and leaseback deal. The group, whcih became a real estate investment trust (REIT) in January, will pay £439 mln (EUR 660 mln) for the portfolio, with a commitment to invest about £35 mln over the next four years in property improvement works.

Would you like to read more? Log in first (top right of the screen) or take a trial.


Latest news

Best read stories