UK to see the first hotel Reit - papers 13th April

Richard Balfour-Lynn, the head of Marylebone Warwick Balfour, and Sir David Michels, former chief executive of Hilton Group, are working with Bank of Scotland and Royal Bank of Scotland to pool between 60 and 80 hotels under the De Vere, Hilton and Marriott brands – to be branded together as Vector - to create the real estate investment trust (Reit). The flotation, in next two weeks, will be the first of its kind in Europe to use the Reit vehicle for hotel assets. PRESIDENT OF THE World Bank Paul Wolfowitz is said to be under pressure to resign, according to the FT and the Guardian, aft...