Whitbread in talks to sell Marriott hotels

Leisure group Whitbread surprised the City today by confirming it was in talks to sell some or all of its 52 upmarket Marriott hotels in the UK.

Shares in Whitbread rocketed nearly 10% as analysts put a £1bn (€1.43bn) price tag on the four-star and five-star hotels, which the company franchises from Marriott International.

Whitbread has been increasingly focusing on the budget hotel sector and a strategic review in October signalled the sale and “manage back” of about half of its Marriott properties rather than their outright disposal.

In a statement today, Whitbread said: “The company confirms that it is currently in discussions which may or may not lead to the disposal of some or all of these (Marriott UK) hotel assets.”