Savills has completed the sale of the remaining nine hotels of the Project Zinc portfolio, on behalf of Zinc Hotels (Holdings) Limited and its subsidiaries – in administration, for a total consideration of £252m.
The nine regional Hilton hotels were acquired by a number of SPVs controlled by Vivion Investments Sarl.
The properties included Hilton hotels in Croydon; Watford; Nottingham; Leeds city centre; Northampton; York; East Midlands Airport as well as the Hilton hotel and Woodcourt Lodge in Cobham, Surrey; and Hilton Puckrup Hall in Twyning, Tewkesbury.
All the hotels are operated under occupational lease agreements with a subsidiary of Hilton Worldwide Inc. with an initial unexpired term of circa.11 years.
