Morgans Unloads 2 London Hotels For £192M

Law360, New York (November 23, 2011, 2:52 PM EST) -- Boutique hotel operator Morgans Hotel Group Co. and a private equity partner has sold two of their London hotels to Capital Hill Hotels Ltd., a Middle Eastern investor, for £192 million ($300 million), Morgans announced Wednesday.

Morgans and private equity firm Walton Street Capital LLC closed on the sale of the Sanderson and St. Martins Lane hotels to Capital Hill, which is adding the boutique hotels to its global portfolio and freeing Morgans to focus on building its food and beverage platform.

Morgans, which will continue...
To view the full article, register now.