Granada Compass To Sell Hotels

LONDON Granada Compass Plc plans to sell the majority of its hotel assets for as much as 3 billion pounds ($4.5 billion), according to recent reports.

Granada Compass was formed in May by the merger of media, hotels and hospitality company Granada Group with caterer Compass Group. The newly merged group will sell the Posthouse, Le Meridien and Heritage hotel groups. Granada Compass will keep its Travelodge chain of roadside hotels. (9/4/00)

SOURCE: Bloomberg