Development

BIL to sell six Thistle hotels

Thistle Hotels, London's biggest hotel chain, plans to sell six London hotels with the help of UBS Investment Bank, its Singapore-based parent BIL said on Tuesday.

Thistle The value and location of the hotels were immediately available but BIL said the sale was part of a portfolio reshuffling at Thistle, which owns or manages 54 hotels and is 100-percent owned by BIL International Ltd

"We have appointed UBS. We were looking at a sale, management contract transaction," Arun Amarsi, BIL's chief executive officer, told Reuters by telephone.

One hotel outside of London may also be sold, Amarsi added.

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