Hotel group returning cash to shareholders

Jarvis Hotels is returning £85m (€134.5m) to shareholders after signing a bumper sale and leaseback deal covering nine of its largest sites.

Hotel group returning cash to shareholders
Fri, 11 Oct, 2002 - 17:46

Jarvis Hotels is returning £85m (€134.5m) to shareholders after signing a bumper sale and leaseback deal covering nine of its largest sites.

The group is reserving the majority of the £150m (€237.4m) raised through the sale to buy-up 36% of its shares at a set price of 137.5p each.

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