"Sunday Times": Park Plaza Hotels is in talks to sell the hotel for ₤150 million.
"Sunday Times" reports that Park Plaza Hotels Ltd. (AIM:PPH), controlled by chairman Eli Papouchado, is in talks to sell London’s Riverbank Hotel to David Buddemeyer’s Driftwood Hospitality Management for ₤150 million. The 396-room hotel is on the banks of the Thames, across from the Houses of Parliament.
"Sunday Times" did not disclose its source.
Papouchado's Red Sea Group Ltd. owns 45.7% of Park Plaza Hotels, whose share price closed at ₤1.53 on Friday giving a market cap of ₤62 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2011
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