Arora Family Trust buys nine UK airport hotels
Friday 10th February 2006 00:00
Property investment group the Arora Family Trust has bought nine hotels from the Airport Hotels Unit Trust (AHUT) for more than £300m.
The properties are the Hilton and Renaissance hotels at Heathrow, and the Hilton, the Sofitel, the Premier Travel Inn and Renaissance hotels at Gatwick, in addition to the Radisson SAS, Express by Holiday Inn and Hilton hotels at Stansted.
The deal completed last week, and BAA Lynton, which manages AHUT, will continue to run the properties.
Surinder Arora, whose family is the beneficiary of the Arora Family Trust, said: "It gives us a warm feeling to think that we are now the owners of more than 5,500 hotel bedrooms in the country."
Robert Seabrook, executive vice-president of Jones Lang LaSalle Hotels, said: "Arora's knowledge of the market means he will bring a lot to the trading performance of the properties."